PRECIOUS-Spot gold steady as safe-haven trade offsets dollar gains

Published 2016-03-22, 09:00 p/m
© Reuters.  PRECIOUS-Spot gold steady as safe-haven trade offsets dollar gains
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MELBOURNE, March 23 (Reuters) - Spot gold was steady on
Wednesday, with the impact of a stronger dollar offsetting a
slight swell in the metal's safe-haven appeal after the bomb
attacks in Belgium.

FUNDAMENTALS
* Spot gold XAU= was trading flat at $1,248.20 an ounce by
0034 GMT, with trade expected to wind down ahead of the Easter
holiday which starts on Friday. Prices have been trading in a
narrowing band of $1,240-$1,270 for the past week.
* U.S. gold GCcv1 was also flat at $1,248.90.
* The U.S. central bank has become so cautious about raising
interest rates at even a moderate pace that the once-fringe
preference of one of its most dovish policymakers for super-slow
interest-rate increases has gone mainstream.
* Venezuela exported about 443 million Swiss francs ($456
million) worth of gold to Switzerland in February, data showed
on Tuesday, as the South American country's central bank carried
out swaps to receive cash due to a biting economic crisis.
* The arrest of an Iranian gold trader whom Turkish
prosecutors placed at the heart of a Turkish government graft
scandal two years ago hit shares in a state-run bank on Tuesday
and raised opposition hopes that new light would be shed on a
case it said was covered up.
* Switzerland became a net importer of platinum once again
in February, data from the Swiss customs bureau showed on
Tuesday, as shipments from major producer South Africa ticked
up.
* Platinum XPT= traded up 0.5 percent at $993.55, while
palladium XPD= was little changed at $602.65.
* For the top stories on metals and other news, click
TOP/MTL or GOL

MARKET NEWS
* Global equity markets were little changed, regrouping from
early losses while government bonds eased from higher levels on
Tuesday following the attacks on the airport and a rush-hour
metro train in Brussels. MKTS/GLOB


DATA AHEAD (GMT)
1400 U.S. New home sales Feb

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