PRECIOUS-Gold prices dip as stock markets, dollar climb

April 24 (Reuters) – Gold costs eased on Wednesday, remaining close to a four-month low touched within the earlier session because the greenback strengthened and Asian shares rose after the Nasdaq and S&P 500 indexes marked file closing highs.

FUNDAMENTALS

* Spot gold had fallen zero.1 % to $1,270.40 per ounce by 0105 GMT, having hit its lowest for the reason that finish of final yr at $1,265.90 within the final session.

* U.S. gold futures have been zero.1-percent decrease at $1,272.50 an oz.

* Fairness markets in Asia rose on Wednesday morning after optimistic earnings helped the Nasdaq and S&P 500 indexes to set file closing highs on Wall Avenue in a single day, whereas oil retreated from close to six-month highs.

* The greenback hovered close to a 22-month peak in opposition to its friends on Wednesday, after robust U.S. housing knowledge additional eased considerations of a slowdown on the planet’s largest financial system.

* Gross sales of latest U.S. single-family properties rose to a close to 1-1/2-year excessive in March, boosted by decrease mortgage charges and home costs.

* After China’s financial system defied expectations that it might gradual additional in January-March, U.S. development is anticipated to be 2.1 % in the identical interval, though the vary of analysts’ estimates was wider than typical at 1.zero to 2.9 %.

* U.S. GDP knowledge is anticipated on Friday.

* Public debt in Greece and Italy, the 2 most indebted international locations within the euro zone, grew final yr whereas the bloc as an entire noticed its liabilities lower, the European Union statistics workplace mentioned on Tuesday.

* North Korean chief Kim Jong Un and Russian President Vladimir Putin will meet on Thursday within the Russian Pacific port of Vladivostok to debate the worldwide standoff over Pyongyang’s nuclear programme, a Kremlin official mentioned.

* SPDR Gold Belief, the world’s largest gold-backed exchange-traded fund, mentioned its holdings fell zero.27 % to 749.63 tonnes on Tuesday from 751.68 tonnes on Monday.

* Agnico Eagle Mines is doubling down this yr on Nunavut, Canada’s least developed territory, betting that the high-grade gold ores and slim competitors there’ll offset the dangers of digging within the distant location within the far north.

DATA AHEAD (GMT)

* 0645 France Enterprise Local weather Mfg April

* 0800 Germany Ifo Enterprise Local weather New April

* Financial institution of Japan holds financial coverage assembly (Reporting by Arijit Bose in Bengaluru; Modifying by Joseph Radford)

Our Requirements:The Thomson Reuters Belief Rules.

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