MANILA, Jan 22 (Reuters) - Gold slipped early on Friday as
the euro fell after the European Central Bank hinted at further
policy easing amid turmoil in global markets and weaker growth
across emerging economies.
FUNDAMENTALS
* Spot gold XAU= was off 0.2 percent at $1,099.20 an ounce
by 0049 GMT. But bullion was still up around 1 percent for the
week after touching a 1-1/2-week peak of $1,109.20 on Wednesday.
* Gold benefited from the risk aversion among investors that
sank stocks and crude oil, although slow physical demand from
major consumers China and India kept a lid on price gains.
* Premiums for gold prices in China only rose slightly this
week and sellers in India offered discounts amid poor demand.
GOL/AS
* U.S. gold for February delivery GCcv1 climbed 0.1
percent to $1,099.40 an ounce.
* Fading growth and inflation prospects will force the ECB
to review its policy stance in March, President Mario Draghi
said, a strong signal that more easing could be coming within
months.
* The Indian government will pay banks a 2.5 percent
commission to unlock the country's massive stash of gold under a
new monetisation scheme, the central bank said, as the ambitious
plan received a poor response from banks and customers.
* Barrick Gold Corp ABX.TO , the world's biggest gold
producer, said it expected to take charges of up to $3 billion
following an annual accounting impairment review.
* Production from gold and silver mines is tipped to drop in
2016 after years of waning metal values, but silver prices are
more likely to benefit from the decline than gold.
* Australia is considering tightening its anti-money
laundering regulations to include real estate agents and
precious stone dealers, sources said, following red flags from a
global watchdog over potential illicit cash entering the
country.
* For the top stories on metals and other news, click
TOP/MTL or GOL
MARKET NEWS
* Asian stocks gained after the markets were given some
breathing space when the European Central Bank hinted of more
monetary policy easing, while crude oil extended an overnight
rally. MKTS/GLOB
* The dollar firmed against a basket of currencies,
underpinned by rising expectations of monetary easing by other
major central banks but also kept in check by fading hopes for
more interest rate increases from the U.S. Federal Reserve.
USD/
DATA AHEAD (GMT)
0800 France Markit manufacturing flash PMI Jan
0830 Germany Markit manufacturing flash PMI Jan
0900 Euro zone Markit manufacturing flash PMI Jan
0930 Britain Retail sales Dec
1330 U.S. National activity index Dec
1445 U.S. Markit manufacturing flash PMI Jan
1500 U.S. Existing home sales Dec
1500 U.S. Leading index Dec