BENGALURU, April 11 (Reuters) - Gold prices rose early on
Wednesday as the dollar index hovered near two-week lows, with
markets awaiting key U.S. inflation data and minutes from the
Federal Reserve's March meeting.
FUNDAMENTALS
* Spot gold was on track for a fourth straight
session of gains, up 0.2 percent at $1,341.26 an ounce as of
0114 GMT. Prices earlier rose to a one-week high of $1,342.64 an
ounce.
* U.S. gold futures were unchanged at $1,346 an
ounce.
* The dollar index , which measures the greenback
against six other major currencies, was steady at 89.567, not
far from a two-week low of 89.544 hit on Tuesday.
* Chinese President Xi Jinping promised on Tuesday to open
the country's economy further and lower import tariffs on
products like cars, in a speech seen as an attempt to defuse an
escalating trade dispute with the United States.
* U.S. President Donald Trump welcomed Xi's promise to open
China's economy further, expressing confidence the world's two
largest economies would come through an ongoing trade spat and
"make great progress together."
* U.S. producer prices increased more than expected in
March, boosted by rising healthcare and food costs, pointing to
a steady buildup of inflation pressures.
* The U.S. economy likely expanded at a 2.0 percent
annualized rate in the first quarter in the wake of the March
payrolls data released on Friday, the Atlanta Federal Reserve's
GDPNow forecast model showed on Tuesday.
* The Bank of England should not delay raising interest
rates again, one of its top policymakers, Ian McCafferty said,
pointing to the possibility of faster pay rises and the recent
strong pick-up in the world economy.
* The European Central Bank could stagger the process of
raising euro zone interest rates by first lifting its sub-zero
deposit rate back toward positive territory, one of its
longest-standing policymakers, Ewald Nowotny, said on Tuesday.
* Kin Mining NL decided to curtail construction
works on the Leonora gold project pending a full review of
capital cost and schedule for completion, the company said on
Wednesday.
