USBpH

U.S. Bancorp Depositary Shares repstg 1/1000th Pfd Ser B

19.4880
USD
-2.17%
19.4880
USD
-2.17%
18.5500 25.0000
52 weeks
52 weeks

Mkt Cap 796.80M

Shares Out 40.00M

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PRECIOUS-Gold extends fall on stronger dollar, Fed rate-hike worries

Aug 16 (Reuters) - Gold prices inched lower on Tuesday after falling more than 1% in the previous session, weighed down by an uptick in the U.S. dollar and worries over further U.S. interest rate hikes. FUNDAMENTALS * Spot gold was down 0.1% at $1,777.46 per ounce, as of 0054 GMT, after hitting its lowest since Aug. 8 at $1,772.30 on Monday. * U.S. gold futures eased 0.2% to $1,793.90 per ounce. * The dollar rose 0.1% to a more than one-week high against its rivals, making gold more expensive for buyers holding other currencies. [USD/] * U.S. single-family homebuilders' confidence and New York state factory activity fell in August to their lowest levels since near the start of the COVID-19 pandemic, a further sign the economy is softening as the Federal Reserve raises interest rates. [nL1N2ZR0YB] * Fed officials have maintained a hawkish tone and hinted at more rate hikes down the year to tame high inflation. [nL1N2ZO19E] * Although gold is seen as a hedge against inflation, rising U.S. interest rates dull non-yielding bullion's appeal. * Investors now await minutes from the Fed's July meeting on Wednesday for clues on further rate hikes. * Traders were pricing in around a 36.5% chance of a 75-basis-point rate hike by the Fed in September and a 63.5% chance of a 50 bps increase. * SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings fell 0.2% to 993.94 tonnes on Monday from 995.97 tonnes on Friday. [GOL/ETF] * Spot silver slipped 0.2% to $20.21 per ounce, platinum fell 0.4% to $929.29, and palladium was steady at $2,144.52. DATA/EVENTS (GMT) 0430 Japan Tertiary Ind Act NSA June 0600 UK Claimant Count Unem Chng July 0600 UK ILO Unemployment Rate June 0600 UK HMRC Payrolls Change July 0630 India WPI Inflation YY July 0900 EU Total Trade Balance SA June 0900 Germany ZEW Economic Sentiment Aug 0900 Germany ZEW Current Conditions Aug 1230 US Housing Starts Number July 1315 US Industrial Production MM July (Reporting by Brijesh Patel in Bengaluru; Editing by Subhranshu Sahu) ((Brijesh.Patel1@thomsonreuters.com; Within U.S. +1 651 848 5832, Outside U.S. +91 8067493865; Reuters Messaging: Brijesh.Patel1.thomsonreuters.com@reuters.net)) Keywords: GLOBAL PRECIOUS/ The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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