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PRECIOUS-Gold up on a softer dollar; U.S. CPI, Fed minutes in focus | Reuters

April 11, 2018 / 1:25 AM / Updated 11 hours ago...

 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.

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