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PRECIOUS-Gold prices slip as trade euphoria lifts risk appetite
Published at 13/12/2019 at 01:50

Dec 13 (Reuters) - Gold prices fell on Friday after sources said Washington and Beijing had reached an interim trade deal and averted a fresh round of U.S. tariffs, boosting appetite for riskier assets.


* Spot gold was down 0.2% at $1,466.35 per ounce, as of 0051 GMT, but was on track to post a weekly gain.

* In the previous session, gold prices hit their highest in over a month, driven by trade uncertainties ahead of a Dec. 15 deadline, when U.S. tariffs on Chinese goods were initially expected to kick in.

* U.S. gold futures were also down 0.2% at $1,469.60.

* A wave of trade relief lifted global equities following reports that the United States has agreed to reduce some tariffs and delay a tranche of tariffs as part of a "phase-one" deal.

* Asian markets also jumped on reports that Prime Minister Boris Johnson's Conservative Party looked to have won a clear majority in UK elections.

* World stocks hit a record high on Thursday, passing an all-time peak set in early 2018, on respite over a prolonged trade war.

* Christine Lagarde struck a more upbeat tone on the economy in her first news conference as head of the European Central Bank on Thursday and promised a new style of leadership as she outlined a sweeping one-year review of the bank's workings.

* Palladium hit a record peak of $1,964.56 an ounce on supply crunch, and was last up 0.5% at $1,949.30. The metal was poised to register a fourth weekly gain.

* The autocatalyst metal had breached the $1,900 level for the first time earlier this week following blackouts in South Africa after a week of heavy rains across parts of the country caused flooding.

* Elsewhere, silver dipped 0.1% to $16.90 per ounce, but was headed for its best week since late October, gaining over 2%, while platinum fell 0.1% to $942.68, but was set to post its best week since late August, rising 5.1%.

DATA/EVENTS (GMT) 0630 India WPI Inflation YY Nov 1330 US Retail Sales MM Nov

(Reporting by Sumita Layek in Bengaluru, Editing by Sherry Jacob-Phillips)

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