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Gold steady ahead of central bank speeches at Jackson Hole
Gold was unchanged early Friday, with investors awaiting directional clues from speeches due later in the day at a gathering of central bankers at Jackson Hole in the United States.
Gold was unchanged early Friday, with investors awaiting directional clues from speeches due later in the day at a gathering of central bankers at Jackson Hole in the United States.
FUNDAMENTALS
* Spot gold XAU= was unchanged at $1,286.10 an ounce by 0051 GMT, after dropping nearly 0.3 percent in the previous session.
* U.S. gold futures GCcv1 for December delivery were flat at $1,291.60 per ounce.
* The dollar was buoyant against the yen on Friday as some participants bought back the currency to square positions ahead of the Jackson Hole meeting. [USD/]
* The world's top central bankers will meet with their confidence bolstered by a sustained return to economic growth that may eventually allow the European Central Bank and the Bank of Japan to follow the Federal Reserve in winding down their crisis-era policies.
* Federal Reserve Chair Janet Yellen is due to speak at 1400 GMT and European Central Bank President Mario Draghi will speak at 1900 GMT.
* After a turbulent year of anti-globalisation backlash, central bankers still argue open borders and free trade are the key to more jobs, growth and prosperity.
* The U.S. Federal Reserve said on Thursday it requested public comments on a plan for the New York Federal Reserve and the Office of Financial Research to come up with three reference rates based on U.S. Treasuries-backed repurchase agreements (repos).
* President Donald Trump picked a new fight on Thursday with his fellow Republicans, saying congressional leaders could have avoided a "mess" over raising the U.S. debt ceiling if they had taken his advice.
* With photographs obliquely showing a new rocket design, North Korea has sent a message that it is working on an intercontinental ballistic missile (ICBM) more powerful than any it has previously tested, weapons experts said on Thursday.
* China's net gold imports via main conduit Hong Kong increased 2.3 percent in July from the previous month, data showed on Thursday.
* Japan's core consumer prices rose 0.5 percent in July from a year earlier to mark a seventh straight gaining month, a sign the economy is making slow but steady progress towards meeting the central bank's 2 percent inflation target.
