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PRECIOUS-Gold extends losses as equities rise on Brexit delay

CommoditiesMar 14, 2019 21:50
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© Reuters. PRECIOUS-Gold extends losses as equities rise on Brexit delay

March 15 (Reuters) - Gold prices edged down on Friday after slipping below the key $1,300 level in the previous session, pressured by improving appetite for risk as British lawmakers voted to seek a delay to the country's exit from the European Union.

FUNDAMENTALS

* Spot gold XAU= was down 0.1 percent at $1,295.29 per ounce by 0130 GMT, extending a 1-percent decline from the day before.

* U.S. gold futures GCv1 were flat at $1,295.20 an ounce.

* The dollar .DXY was steady against major currencies, after rising for the first time in five sessions on Thursday. USD/

* Asian stocks made modest gains on Friday, tracking improved global sentiment after the vote to delay Brexit and as a weaker yen supported Japanese shares, but a fresh flare up in U.S.-China trade concerns is expected to cap gains. MKTS/GLOB

* British lawmakers voted overwhelmingly on Thursday to seek a delay in Britain's exit from the European Union, setting the stage for Prime Minister Theresa May to renew efforts to get her divorce deal approved by parliament next week. A summit to seal a trade deal between U.S. President Donald Trump and Chinese President Xi Jinping will not happen at the end of March as previously discussed because more work is needed in U.S.-China negotiations, Treasury Secretary Steven Mnuchin said on Thursday. The U.S. Senate on Thursday rebuked Trump by voting to end his border emergency declaration, as 12 Republicans joined Democrats to deliver a second blow in as many days to the president, who quickly pledged a veto. The number of Americans filing applications for unemployment benefits increased more than expected last week, suggesting the labour market was slowing, while new home sales fell more than expected in January. The Bank of Japan is likely to stand pat on monetary policy on Friday but temper its optimism that robust exports and factory output will underpin growth, a nod to heightened overseas risks that threaten to derail a fragile economic recovery. South Africa's total mining output fell 3.3 percent year-on-year in January compared to a revised 4.1 percent contraction in December, Statistics South Africa said on Thursday. AHEAD (GMT) 1000 Euro zone Consumer prices (HICP)(Feb) 1100 Euro zone Reserve Assets Total (Feb) 1315 U.S.

Industrial Production (Feb)

Bank of Japan Monetary policy meeting (March 14-15)

PRECIOUS-Gold extends losses as equities rise on Brexit delay
 

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