FUNDAMENTALS
* Spot gold was down 0.1% at $1,816.33 per ounce, as
of 0052 GMT, after hitting a two-month low on Monday. U.S. gold
futures were flat at $1,824.70.
* New orders for key U.S.-manufactured capital goods
increased by the most in five months in January while shipments
of core goods rebounded, suggesting that business spending on
equipment picked up at the start of the first quarter, according
to data on Monday.
* Separate data on Monday showed contracts to buy U.S.
previously owned homes rose by the most in more than 2-1/2 years
in January.
* Money markets expect the U.S. Fed's target rate to peak at
5.405% in September, from a current range of 4.50% to 4.75%.
* Bullion is often seen as a hedge against inflation, but
the opportunity cost of holding it rises when interest rates are
increased to bring down inflation.
* China's net gold imports via Hong Kong in January fell by
about 47% from the previous month, Hong Kong Census and
Statistics Department data showed on Monday.
* The dollar index was off a seven-week high hit on
Monday, making bullion less expensive for buyers holding other
currencies.
* Spot silver was flat at $20.62 per ounce, platinum fell 0.3% to $936.15 and palladium lost 0.7% to
$1,419.89.
DATA/EVENTS (GMT)
0745 France GDP QQ Final Q4
0745 France CPI (EU Norm) Prelim YY Feb
0745 France Producer Prices YY Jan
1500 US Consumer Confidence Feb
(Reporting by Kavya Guduru in Bengaluru; Editing by Sherry
Jacob-Phillips)
Feb 28 (Reuters) - Gold prices dipped on Tuesday and
were poised for a monthly decline of about 6% as the prospects
of further interest rate hikes from the U.S. Federal Reserve
continued to weigh on the zero-yielding asset's appeal.
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