BENGALURU, July 5 (Reuters) - Gold prices held steady early
on Tuesday on an easing dollar and weaker Asian stocks, after
the metal surged to near two-year highs the session before.
FUNDAMENTALS
* Spot gold XAU= was up 0.1 percent at $1,351.49 an ounce
by 0052 GMT. The precious metal touched a peak of $1,357.60 an
ounce Monday, less than $1 below last month's high.
* U.S. gold GCcv1 was up over 1 percent at $1,354.30.
* Silver XAG= rose as much as 7 percent and breaking above
$21 an ounce for the first time in two years on Monday. The
white metal was up 0.4 at $20.40.
* Asian shares stepped back after five straight days of
gains on Tuesday as investors took stock of a rally driven by
the hope that central banks will provide stimulus to offset a
likely downturn triggered by Brexit. MKTS/GLOB
* The U.S. dollar index, which tracks the greenback against
a basket of six rival currencies, edged down 0.1 percent to
95.581 .DXY . USD/
* Britain's vote to leave the European Union has ramped up
the urgency for some Asian central banks to ease monetary
policy, as a prolonged period of uncertainty threatens a wider
downshift in trade and investment.
* Chinese commodities from nickel to cotton surged on Monday
on hopes Beijing will unleash more stimulus to prop up a
sluggish economy, brightening the outlook for raw material
demand.
* China's central bank said on Monday that it would use
various policy tools to maintain appropriate liquidity and
reasonable growth in credit and social financing.
* A flurry of data from China in coming weeks is expected to
show continued weakness in trade and investment, sluggish
industrial output and another drop in foreign reserves,
reinforcing views that Beijing will roll out more economic
support measures soon.
* London-listed shares of precious metals miners advanced to
new highs on Monday, tracking gains in gold and silver prices,
with Randgold Resources RRS.L climbing to a record high and
Fresnillo FRES.L at its best level since late 2012.
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TOP/MTL or GOL
DATA AHEAD (GMT)
0145 China Caixin services PMI Jun
0750 France Markit services PMI Jun
0755 Germany Markit services PMI Jun
0800 Euro zone Markit services PMI final Jun
0900 Euro zone Retail sales May
1345 U.S. ISM-New York index Jun
1400 U.S. Factory orders May