FUNDAMENTALS
* Spot gold held its ground at $2,016.86 per ounce by
0021 GMT after ending lower in the previous session. U.S. gold
futures edged 0.1% higher at $2,021.80.
* Gold prices rose on Thursday after data showed a jump in weekly jobless claims and the smallest annual increase in producer prices last month in over two years. But lost its allure as the U.S. dollar gained upper hand, making bullion more expensive for overseas buyers.
* A debt limit meeting between U.S. President Joe Biden and
top lawmakers that had been scheduled for Friday has been
postponed, and the leaders agreed to meet early next week, a
White House spokesperson said on Thursday.
* Large U.S. lenders will bear most of the cost of
replenishing a deposit insurance fund that was drained of $16
billion by the collapse of Silicon Valley Bank and two other
lenders, although mid-sized banks will also be on the hook, the
Federal Deposit Insurance Corporation said on Thursday.
* Markets are currently pricing in an 89.9% chance of the
U.S. central bank holding rates at its current level in June.
* Safe-haven bullion tends to gain during times of economic
or financial uncertainty, while lower rates also lift the appeal
of the zero-yield asset.
* SPDR Gold Trust GLD, the world's largest gold-backed
exchange-traded fund, said its holdings fell 0.12% to 937.84
tonnes on Thursday from 938.99 tonnes on Wednesday.
* Spot silver was flat at $24.17 per ounce, while
platinum fell 0.2% to $1,091.13 and palladium rose
0.2% to $1,554.63.
DATA/EVENTS (GMT)
0600 UK GDP Est 3M/3M March
0600 UK GDP Estimate MM, YY March
0600 UK GDP Prelim QQ, YY Q1
0600 UK Manufacturing Output MM March
1230 US Import Prices YY April
1400 US U Mich Sentiment Prelim May
(Reporting by Arundhati Sarkar in Bengaluru; Editing by Sherry
Jacob-Phillips)
