Gold steadies as traders brace for US economic data
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Synopsis
Investors will be watching out for data that could shape the U.S. Fed's interest rate trajectory - starting with flash PMI report due later in the day, fourth-quarter advance GDP estimates on Thursday and personal consumption expenditures data on Friday.
* Spot gold edged 0.1% lower to $2,027.39 per ounce by 0156 GMT.
* The dollar index hovered near a six-week high, making bullion less appealing for other currency holders.
* Yields on benchmark U.S. 10-year Treasury notes held above 4%.
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* Investors will also be watching out for European Central Bank (ECB) chief Christine Lagarde's press conference on Thursday for clues on where rates are headed.
* Fed officials last week said the U.S. central bank needs more inflation data in hand before any rate cut judgment could be made and that the baseline for cuts to start was in the third quarter.
* Japan's exports value surged to their biggest monthly record in December, official data showed, propelled by shipments to China rising for the first time in over a year and record sales to the U.S.
* Spot silver was little unchanged at $22.42 per ounce, platinum was flat at $900.06, and palladium fell 0.2% to $946.18.