Equity Trading Tips: Gold Gains On Weaker Dollar

Gold rose for a fourth day on Wednesday, after hitting a near two-week high in the previous session, supported by weakness in the U.S. dollar.

Fundamentals

* Spot gold was up 0.2 percent at $1,290.56 an ounce by 0053 GMT. It touched its highest level since Sept. 27 in the previous session.

* U.S. gold futures for December delivery were nearly unchanged at $1,293 per ounce.

* The dollar wobbled against its peers on Wednesday and edged further away from a 10-week high scaled recently amid speculation that the U.S. tax overhaul plan introduced by President Donald Trump would stall, with a buoyant euro adding further pressure on the greenback.

* Catalonia's leader balked at making a formal declaration of independence from Spain on Tuesday, calling for talks with Madrid over the region's future in a gesture that eased fears of immediate unrest in the heart of the euro zone.

* The German government will raise its 2017 growth forecast for Europe's biggest economy to 2 percent, a sharp increase from its earlier estimate of 1.5 percent and the strongest rate since 2011, a source told Reuters on Tuesday.

* China will have no problem meeting its economic growth target of around 6.5 percent this year, and may even beat it, the head of the Statistics Bureau said on Tuesday, confirming widespread market expectations.

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