FUNDAMENTALS
* Spot gold was up 0.1% at $1,919.86 per ounce, as of
0050 GMT, after rising more than 1% on Wednesday. U.S. gold
futures fell 0.2% to $1,927.80.
* Shares of Credit Suisse slumped by as much as 30%
on Wednesday after the lender's largest shareholder said it
could not provide further support, prompting the chief executive
officer to make new assurances on its financial strength.
* Swiss regulators pledged a liquidity lifeline to Credit
Suisse in an unprecedented move by a central bank.
* Data on Wednesday showed U.S. retail sales fell 0.4% in
February as purchases of motor vehicles and other goods slumped.
* Separate data showed U.S. producer prices unexpectedly
fell 0.1% in February.
* Markets now see a 51.1% chance of rates being held at
current levels at the U.S. Federal Reserve's March meeting.
* Gold is considered a hedge against economic uncertainties,
and tends to gain on expectations of lower interest rates, which
reduce the opportunity cost of holding non-yielding bullion.
* The dollar index eased 0.1%, making bullion less
expensive for buyers holding other currencies. U.S. benchmark
10-year Treasury yields were lower.
* Spot silver rose 0.2% to $21.84 per ounce, platinum was 0.1% higher at $962.96 and palladium gained
1.4% at $1,467.90.
DATA/EVENTS (GMT)
1230 US Housing Starts Number Feb
1230 US Import Prices YY Feb
1230 US Initial Jobless Clm Weekly
1230 US Philly Fed Business Indx March
1315 EU ECB Refinancing Rate March
1315 EU ECB Deposit Rate March
1515 Christine Lagarde, President of the European Central
Bank, presents the latest monetary policy decisions
(Reporting by Kavya Guduru in Bengaluru; Editing by Sherry
Jacob-Phillips)
March 16 (Reuters) - Gold prices edged higher on
Thursday as troubles at Swiss lender Credit Suisse renewed fears
of a banking crisis worldwide and steered traders towards the
safe-haven metal.
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