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PRECIOUS-Gold gains as U.S. bill backing HK protesters fuels trade deal doubts

Published 28/11/2019, 01:06 pm
© Reuters.  PRECIOUS-Gold gains as U.S. bill backing HK protesters fuels trade deal doubts
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Nov 28 (Reuters) - Gold rose on Thursday as investors bought the safe-haven metal amid new doubts about whether the United States and China will sign a trade deal after President Donald Trump signed legislation supporting protesters in Hong Kong, irking Beijing.

FUNDAMENTALS

* Spot gold XAU= was up 0.2% to $1,457.60 per ounce by 0132 GMT. U.S. gold futures GCv1 rose 0.2% to $1,456.30.

* Palladium XPD= shed 0.5% to $1,824 per ounce, giving up some gains after hitting an all-time peak at $1,836.61 on a supply deficit.

* Asian share markets wobbled, while the safe-haven yen rose against the dollar, after Trump's move to sign into law congressional legislation backing Hong Kong protesters fuelled concern that efforts to end the long-running trade dispute between the world's two biggest economies could become more complicated. MKTS/GLOB USD/

* U.S. economic growth picked up slightly in the third quarter, while the number of Americans filing applications for unemployment benefits fell last week. New orders for key U.S.-made capital goods increased by the most in nine months in October and shipments rebounded, suggesting some stabilization in business investment. China will speed up reforms to help build a market-based, globalised business environment and break investment barriers for all kinds of companies, Premier Li Keqiang was quoted as saying during a Cabinet meeting on Wednesday. Japan's retail sales tumbled at their fastest pace in more than 4-1/2 years in October as a sales tax hike prompted consumers to cut spending. Platinum XPT= was up 0.2% to $894.24 and silver XAG= rose 0.3% to $17 per ounce.

DATA/EVENTS (GMT) 0030 Australia Capital Expenditure

Q3 1000 EU

Consumer Confid. Final

Nov 1100 Brazil

IGP-M Inflation Index

Nov 1300 Germany

CPI Prelim YY

Nov 1300 Germany

HICP Prelim YY

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