PRECIOUS-Gold edges higher on dollar retreat, eyes on Trump-Biden debate


Sept 29 (Reuters) – Gold edged higher on Tuesday buoyed by a
softer dollar, with investors focusing on the first U.S.
presidential debate and progress on a new U.S. stimulus bill.

FUNDAMENTALS

* Spot gold rose 0.15% to $1,883.69 per ounce by 0058
GMT. Prices rose 1.1% in the previous session, its biggest
one-day gain since late August.

* U.S. gold futures were up 0.4% at $1,889.70.

* The dollar index was down 0.1% against rivals,
having recorded its biggest daily percentage drop in a month on
Monday. [USD/]

* A weaker dollar makes gold cheaper for holders of other
currencies.

* President Donald Trump and former Vice President Joe Biden
will square off in their first presidential debate later in the
day, with five weeks to go until the Nov. 3 general
election.

* U.S. House of Representatives Speaker Nancy Pelosi said on
Monday that Democratic lawmakers unveiled a new, $2.2 trillion
coronavirus relief bill, which she said was a compromise measure
that reduces the costs of the economic aid. She did not say when
there would be a vote on the latest proposal.

* The number of new COVID-19 cases in the United States has
risen for two weeks in a row in 27 out of 50 states, according
to a Reuters analysis, adding to concerns over its economic
fallout.

* The European Union and Britain both said a post-Brexit
deal was still some way off and differences persisted on Monday
over putting in place their earlier divorce deal as they began a
decisive week of talks in Brussels.

* Holdings in SPDR Gold Trust , the world’s largest
gold-backed exchange-traded fund, rose 0.16% to 1,268.89 tonnes
on Monday.

* Silver fell 0.1% to $23.68 per ounce, platinum
fell 0.2% to $880.56 and palladium gained 0.5% to
$2,265.25.

DATA/EVENTS (GMT)

0900 EU

Consumer Confid. Final

1200 Germany CPI Prelim YY

1200 Germany HICP Prelim YY

1400 US

Consumer Confidence

(Reporting by Eileen Soreng in Bengaluru; Editing by Rashmi
Aich)
(([email protected]; Within U.S. +1 646 223
8780, Outside U.S. +91 80 6749 6131; Reuters Messaging:
[email protected]))

Keywords: GLOBAL PRECIOUS/

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