November 30, 2017
PRECIOUS-Gold holds near one-week low as dollar firms
(Reuters) - Gold on Thursday held near a one-week low hit in the previous session, as the dollar firmed amid upbeat U.S. growth data and as a likely vote neared on U.S. tax legislation.
Spot gold was little changed at $1,283.85 an ounce at 0050 GMT. On Wednesday, it fell 0.8 percent to touch its lowest since Nov. 22 at $1,281.90. Still, bullion is heading for its first monthly gain since August, having risen about 1 percent for the month.
U.S. gold futures were up 0.1 percent at $1,283.10.
The dollar index, which gauges the greenback against a basket of six major rivals, was up 0.1 percent.
The U.S. Senate on Wednesday took a step toward passage of tax legislation that is a top White House priority, setting up a likely decisive vote later this week even though it was unclear if the bill has enough Republican support to become law.
The U.S. economy grew faster than initially thought in the third quarter, notching its quickest pace in three years, buoyed by robust business spending on equipment and an accumulation of inventories.
U.S. Treasury yields rose across most maturities on Wednesday, bolstered by upbeat remarks on the economy by Federal Reserve Chair Janet Yellen and data showing stronger than expected U.S. economic growth for the third quarter.
The United States warned the North Korean leadership that it would be "utterly destroyed" if war were to break out, after Pyongyang test fired its most advanced intercontinental ballistic missile, putting the U.S. mainland within range.
OPEC and Russia look set to prolong oil supply cuts until the end of 2018 this week while signalling that they may review the deal when they meet again in June if the market overheats.
The EU has not yet reached a deal with Britain over the "Brexit bill", EU officials said on Tuesday, adding that some in Brussels were worried that progress on a cash settlment masked differences over other issues.
Three of Europe's top central banks raised warning signals on Wednesday about the risk of financial bubbles that their ultra-easy monetary policies are blamed for creating.