Gold holds firm as investors focus on Trump's health

Spot gold was up 0.1% to $1,900.28 per ounce by 0048 GMT

  
A gold bar is pictured in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, August 14, 2019.

A gold bar is pictured in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, August 14, 2019.

REUTERS/Michael Dalder

Gold prices were steady around the $1,900 level on Monday, amid political uncertainty stoked by U.S. President Donald Trump's health after he tested positive for COVID-19 last week.

FUNDAMENTALS

* Spot gold was up 0.1% to $1,900.28 per ounce by 0048 GMT.

* U.S. gold futures were down 0.1% at $1,906.30.

* Doctors treating Trump for COVID-19 sent conflicting signals about the severity of his condition on Sunday, hours before the president surprised supporters gathered outside the hospital with an impromptu motorcade. 

* U.S. employment growth slowed more than expected in September and over 300,000 Americans lost their jobs permanently, underscoring the need for additional fiscal stimulus to aid the economy's recovery. 

* British Prime Minister Boris Johnson said on Sunday that he does not particularly wish for the Brexit transition period to end without a new trade deal in place but believes that Britain could live with such an outcome.

* The dollar index was down 0.1% against rivals, while U.S. stock futures rose on hopes that Trump could be discharged from hospital later in the day. 

* Speculators reduced their bullish positions in COMEX gold and increased them in silver contracts in the week to Sept. 29, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. 

* Holdings in SPDR Gold Trust GLD , the world's largest gold-backed exchange-traded fund, fell 0.05% to 1,275.60 tonnes on Friday. 

* Silver rose 0.8% to $23.89 per ounce, platinum XPT= eased 0.1% to $881.51 and palladium was little changed at $2,307.64.

DATA/EVENTS (GMT)

0600 UK Reserve Assets Total

0750 France Markit Serv, Comp PMIs

0755 Germany Markit Services PMI

0755 Germany Markit Comp Final PMI

0800 EU Markit Serv, Comp Final PMIs

1345 US Markit Serv, Comp Final PMIs

1400 US ISM N-Mfg PMI

(Reporting by Eileen Soreng in Bengaluru; Editing by Rashmi Aich) ((eileen.soreng@thomsonreuters.com; Within U.S. +1 646 223 8780, Outside U.S. +91 80 6749 6131; Reuters Messaging: eileen.soreng.thomsonreuters.com@reuters.net))

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