Gold steady, Donald Trump economic policy in focus - 16 Nov 2016

Commodity Intraday Tips

Gold prices were little changed on Wednesday after snapping a three-session losing streak the day before, with markets focusing on the impact of US president-elect Donald Trump's economic policies.

Spot gold was steady at USD 1,228.14 an ounce at 0036 GMT, after rising 0.66 percent on Tuesday.US gold futures were up 0.3 percent at USD 1,228.10 per ounce.

Trump's election may already be pushing up interest rates and tightening financial markets, something the Federal Reserve will have to monitor as it decides how quickly to tighten monetary policy, Fed Governor Daniel Tarullo said on Tuesday.

US retail sales rose more than expected in October as households bought motor vehicles and a range of other goods, pointing to sustained economic strength that could allow the Fed to raise rates next month.

Oil prices jumped nearly 6 percent on Tuesday on bets OPEC members will agree to cut output when they meet later this month, while stocks rose, led by recently lagging technology shares.

The dollar index, which measures the greenback against a basket of major currencies, was down 0.16 percent at 100.070.

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