April 30 (Reuters) - Gold prices edged down on Friday as
higher U.S. Treasury yields dampened the metal's appeal, while
palladium eased off a record high scaled a day earlier.
FUNDAMENTALS
* Spot gold was down 0.2% at $1,767.12 per ounce by
0113 GMT, U.S. gold futures were steady at $1,768.30 per
ounce.
* Palladium fell 0.1% to $2,947.77 per ounce, after
hitting an all-time high of $2,981.99 on Thursday. The metal was
still on track to post its third straight weekly gain.
* Benchmark U.S. 10-year Treasury yields rose to
a more than two-week high in the previous session, increasing
the opportunity cost of holding non-yielding bullion.
* U.S. economic growth accelerated in the first quarter as
the government gave money to mostly lower-income households,
fuelling consumer spending and setting the course for what is
expected to be the strongest performance this year in nearly
four decades.
* U.S. President Joe Biden proposed a sweeping new $1.8
trillion plan for families and education in a speech to a joint
session of Congress.
* Japan's industrial output posted a surprise increase in
March, as a jump in car production helped keep an economic
recovery from last year's deep coronavirus slump on track.
* China's 2021 gold demand will see annual growth and will
revert to pre-pandemic levels if there are no dramatic changes
to the global economic and geo-political situation, a World Gold
Council (WGC) official said on Thursday.
* Meanwhile, more than 149.67 million people have been
reported to be infected by the novel coronavirus globally and
3,290,675 have died, according to a Reuters tally.
* Silver fell 0.6% to $25.94 per ounce. Platinum
was up 0.5% at $1,203.59.
DATA/EVENTS (GMT)
0530 France GDP Preliminary QQ Q1
0645 France CPI (EU Norm) Prelim YY April
0800 Germany GDP Flash QQ SA, YY NSA Q1
0900 EU GDP Flash Prelim YY, QQ Q1
0900 EU Unemployment Rate March
1230 US Consumption, Adjusted MM March
1400 US U Mich Sentiment Final April
(Reporting by Shreyansi Singh in Bengaluru; Editing by
Subhranshu Sahu)
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