Nov 14 (Reuters) - Gold prices edged up on Friday and
were on track for a weekly gain, supported by a weaker dollar,
although gains were kept in check as hawkish comments from the
U.S. Federal Reserve officials doused hopes for an interest rate
cut in December.
FUNDAMENTALS
* Spot gold was up 0.2% at $4,180.57 per ounce, as of
0127 GMT. Bullion is up 4.5% so far this week.
* U.S. gold futures for December delivery eased 0.3%
to $4,183.40 per ounce.
* The dollar index was heading for a second straight
weekly fall against its rivals, making gold more attractive for
other currency holders.
* Meanwhile, citing worries about inflation and signs of
relative stability in the labor market after two U.S. interest
rate cuts this year, a growing number of Fed policymakers are
signaling reticence on further easing.
* Last month, the Fed lowered interest rates by 25 basis
points, but Chair Jerome Powell signalled caution over another
rate cut this year, in part due to the lack of data.
* Traders are currently pricing in a 51% probability of a
quarter-point rate cut from the Fed next month, down from 64% in
the previous session.
* Non-yielding gold tends to do well in a low-interest-rate
environment and during economic uncertainties.
* The U.S. government reopened after a record 43-day
shutdown that had worried investors and disrupted the flow of
economic data.
* SPDR Gold Trust, the world's largest gold-backed
exchange-traded fund, said its holdings rose 0.22% to 1,048.93
metric tons on Thursday, from 1,046.64 tons on Wednesday.
* Elsewhere, spot silver rose 0.6% to $52.64 per
ounce, platinum gained 0.6% to $1,589.80, and palladium
gained 0.6% to $1,435.20.
DATA/EVENTS (GMT)
0200 China Urban Investment (YTD) YY Oct
0200 China Retail Sales YY Oct
0200 China Unemp Rate Urban Area Oct
0430 Japan Tertiary Ind Act NSA Sep
0745 France CPI (EU Norm) Final MM, YY Oct
0745 France CPI MM, YY NSA Oct
1000 EU Total Trade Balance SA Sep
1000 EU GDP Flash Estimate QQ, YY Q3
1100 EU Reserve Assets Total Oct
(Reporting by Brijesh Patel in Bengaluru; Editing by Rashmi
Aich)
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