• MTS Gold Evening News 20171222

    22 Dec 2017 | Gold News

  

• Gold prices traded just below a two-week high on Friday, pressured by a firmer dollar, but was on track to log a second consecutive week of gains.

Spot gold was down 0.1 percent at $1,265.99 an ounce at 0102 GMT, after hitting $1,268.91 - its highest level since Dec. 6 - in the previous session. It was up 0.85 percent for the week.

U.S. gold futures slipped 0.1 percent to $1,269.4 an ounce.

The dollar edged up on Friday though remained on track for weekly losses.

• Asian stocks edged up on Friday on new data pointing to steady growth in the U.S. economy, while the euro slipped after a vote in Catalonia favoured separatists wanting to break away from Spain.

• Republicans in the U.S. Congress on Thursday advanced stopgap legislation to keep the federal government operating past Friday when funding expires, seeking to avert a self-inflicted disaster just before the Christmas holiday season.

• More than 120 countries defied President Donald Trump on Thursday and voted in favor of a United Nations General Assembly resolution calling for the United States to drop its recent recognition of Jerusalem as Israel's capital.

• The U.S. economy grew at its fastest pace in more than two years in the third quarter, powered by robust business spending, and is poised for what could be a modest lift next year from sweeping tax cuts passed by Congress this week.

• The federal tax bill that Congress approved this week is expected to provide a modest lift to the U.S. economy in 2018 and 2019, as lower taxes should help consumer spending and business spending, J.P. Morgan economists said on Thursday.

• The Moscow Exchange will launch deliverable futures for gold in 2018 in a move to further prop up bullion market liquidity, bourse chief executive Alexander Afanasiev said on Thursday.

• Workers at Pan African Resource's, flagship gold mine in South Africa embarked on a wildcat strike on Sunday in a dispute over living allowance, an industry source with direct knowledge of the matter said on Thursday.


Reference: Kitco

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