PRECIOUS-Gold holds steady as rising equities counter safe-haven demand [Reuters]
LONMIN PLC AMERICAN DEPOSITARY RECEIPTS - SPONSORE (LNMIY)
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Source: Reuters
PRECIOUS-Gold holds steady as rising equities counter safe-haven demand May 16 (Reuters) - Gold prices marked time on Thursday as an uptick in equities offset support from doubts over trade talks between the United States and China. FUNDAMENTALS * Spot gold was steady at $1,295.84 per ounce at 0103 GMT. * U.S. gold futures edged 0.1% lower to $1,296.90 an ounce. * Asian shares steadied on Thursday on news that U.S. President Donald Trump is planning to delay tariffs on auto imports, providing much needed relief to markets hit by a flare-up in trade tensions and on weak U.S. and Chinese economic data. * President Trump is expected to delay a decision on imposing tariffs on imported cars and parts by up to six months, three Trump administration officials told Reuters, avoiding opening yet another front in his global trade battles. * Meanwhile, U.S. Treasury Secretary Steven Mnuchin said on Wednesday he will likely travel to Beijing soon to continue negotiations with Chinese counterparts
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