BENGALURU, June 17 (Reuters) - Gold edged up in early trade
on Friday after registering its biggest one-day fall in over
three weeks in the previous session, supported by a weaker
dollar, and was still headed for a third straight weekly gain.
FUNDAMENTALS
* Spot gold XAU= was up 0.2 percent at $1,281.30 an ounce
at 0107 GMT. Bullion, which has risen 0.7 percent this week so
far, fell one percent on Thursday to notch up its biggest
one-day loss since May 24.
* U.S. gold GCcv1 fell one percent to $1,285
* On a topsy-turvy Thursday, the safe haven asset breached
the $1,300 level and hit a peak of $1,315.55 to touch a near two
year high before turning one percent lower following the
suspension of campaigning for next week's Brexit referendum in
Britain.
* A British member of parliament was shot dead in the street
on Thursday, causing deep shock across the country and the
suspension of campaigning for referendum on the country's EU
membership.
* The yen held at multi-year highs against the dollar and
euro early on Friday, having surged across the board after the
Bank of Japan refrained from adding fresh stimulus while
sterling staged a rebound in a volatile session. USD/
* Federal Reserve Chair Janet Yellen will appear before
lawmakers in the House of Representatives on Wednesday to
discuss monetary policy and the state of the economy, officials
said.
* Glencore GLEN.L is planning to sell its option in a gold
mine owned by Falco Resources FPC.V , two sources familiar with
the situation said on Thursday, as the mining group and
commodities trader presses ahead with asset sales.
* Asian physical gold demand remained subdued this week as
the metal rallied to its highest in nearly two years, with
discounts in India widening the most in 3-1/2 months as
consumers shied away from making new purchases.
* Holdings in SPDR Gold Trust GLD , the world's largest
gold-backed exchange-traded fund, rose 0.20 percent to 902.53
tonnes on Thursday, the highest since October 2013. GOL/ETF
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TOP/MTL or GOL
DATA AHEAD (GMT)
0800 Euro zone current account Apr
0900 Euro zone labour costs Q1
1230 U.S. housing starts May
1230 U.S. building permits May