FUNDAMENTALS
* Spot gold rose 0.3% to $1,765.89 an ounce, as of 0055 GMT, after falling to a two-week low of $1,753.97 in the previous session.
* US gold futures gained 0.2% to $1,780 an ounce.
* The dollar slipped 0.1% against its rivals, making gold cheaper for buyers holding other currencies.
* Benchmark 10-year US Treasury yields fell slightly to 2.8822% after hitting a near-month high of 2.9190% in the previous session. Lower yields reduce the opportunity cost of holding non-interest bearing gold. [US/]
* In minutes of their July meeting released on Wednesday, Fed officials said the pace of future rate hikes would depend on upcoming economic data, as well as assessments of how the economy was adjusting at the higher rates already approved.
* After the minutes were released, traders in Fed key rate futures said a half-percentage-point rate hike was more likely in September.
* Data released on Wednesday showed U.S. retail sales were unexpectedly flat in July as lower gasoline prices weighed on gas station revenues, but consumer spending appeared to recover in July. beginning of the third trimester.
* Consumer price inflation in Britain hit 10.1% in July, its highest level since February 1982, according to official figures.
* SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.32% to 989.01 tonnes on Wednesday from 992.20 tonnes on Tuesday. [GOl/ETF]
* Spot silver fell 0.2% to $19.80 an ounce, platinum was flat at $924.04 and palladium edged down 0.2% to $2,137.20.
FUNDAMENTALS
* Spot gold rose 0.3% to $1,765.89 an ounce, as of 0055 GMT, after falling to a two-week low of $1,753.97 in the previous session.
* US gold futures gained 0.2% to $1,780 an ounce.
* The dollar slipped 0.1% against its rivals, making gold cheaper for buyers holding other currencies.
* Benchmark 10-year US Treasury yields fell slightly to 2.8822% after hitting a near-month high of 2.9190% in the previous session. Lower yields reduce the opportunity cost of holding non-interest bearing gold. [US/]
* In minutes of their July meeting released on Wednesday, Fed officials said the pace of future rate hikes would depend on upcoming economic data, as well as assessments of how the economy was adjusting at the higher rates already approved.
* After the minutes were released, traders in Fed key rate futures said a half-percentage-point rate hike was more likely in September.
* Data released on Wednesday showed U.S. retail sales were unexpectedly flat in July as lower gasoline prices weighed on gas station revenues, but consumer spending appeared to recover in July. beginning of the third trimester.
* Consumer price inflation in Britain hit 10.1% in July, its highest level since February 1982, according to official figures.
* SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.32% to 989.01 tonnes on Wednesday from 992.20 tonnes on Tuesday. [GOl/ETF]
* Spot silver fell 0.2% to $19.80 an ounce, platinum was flat at $924.04 and palladium edged down 0.2% to $2,137.20.