May 16, 2017 / 1:17 AM / 2 years ago

REFILE-PRECIOUS-Gold edges up as dollar eases on weak U.S. data

 (Corrects typo in first bullet point)
    May 16 (Reuters) - Gold prices inched higher early on
Tuesday, with the dollar easing after weak U.S. manufacturing
data dented expectations of an aggressive string of interest
rate hikes by the U.S. Federal Reserve.     
    
    FUNDAMENTALS
    * Spot gold        was up 0.1 percent at $1,231.06 per ounce
at 0057 GMT. On Monday, it touched its highest since May 4 at
1,237.26.
    * U.S. gold futures         were up 0.1 percent at $1,230.90
an ounce.
    * The dollar index       , which measures the greenback's
value versus the euro, yen and four other major currencies, was
down about 0.1 percent. 
    * The New York Fed said on Monday its barometer on business
activity in New York state unexpectedly fell in May, sinking
into negative territory for the first time since October, prior
to the U.S. presidential election.             
    * A private gauge of U.S. home builder sentiment
unexpectedly rose in May to its second strongest level since the
housing bust nearly a decade ago, as the existing supply of
homes remained tight.                   
    * U.S. President Donald Trump disclosed highly classified
information to the Russian foreign minister about a planned
Islamic State operation during their meeting last week, two U.S.
officials with knowledge of the situation said on Monday. The
White House said the allegations, first reported by the
Washington Post, were not true.               
    * North Korea said on Monday it had successfully conducted a
mid- to-long-range missile test and would continue such launches
"any time, any place", defying UN Security Council resolutions
and warnings from the United States.             
    * Cyber security researchers have found technical evidence
they said could link North Korea with the global WannaCry
"ransomware" cyber attack that has infected more than 300,000
computers in 150 countries since Friday.             
    * Paulson & Co held its stake steady in the world's biggest
gold exchange-traded fund while Soros Fund Management stayed out
of the precious metal in the first quarter of 2017, when bullion
prices rallied to 3-1/2-month highs, a filing showed on Monday.
            
    * Eldorado Gold Corp          agreed on Monday to purchase
fellow Canadian mining company Integra Gold Corp ICG.V for C$590
million ($432.4 million) in the latest move by gold miners to
opt for less risky geopolitical regions in a lacklustre gold
market.              
    * The platinum market is set to record its first surplus in
six years in 2017, Johnson Matthey said on Monday, as a drop in
demand from the vehicle industry, jewellers and investors
outstrips a smaller fall in supply.                     

    DATA/EVENT AHEAD (GMT) 
    0645  France    EU-harmonised CPI   Apr  
    0830  UK        CPI                 Apr 
    0830  UK        PPI                 Apr 
    0900  Euro Zone GDP(revised)        Q1  
    0900  Germany   Economic sentiment  May 
    0900  Euro Zone Trade data          Mar 
    1230  US        Housing starts      Apr 
    1315  US        Industrial output   Apr  

 (Reporting by Vijaykumar Vedala in Bengaluru; Editing by Joseph
Radford)
  
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