Jan 23 (Reuters) - Gold notched another record high on
Friday, while silver and platinum also extended gains to hit
all-time peaks, powered by geopolitical and economic
uncertainties, a weaker dollar and bets for U.S. Federal Reserve
interest rate cuts.
FUNDAMENTALS
* Spot gold was up 0.5% at $4,961.57 per ounce, as of
0057 GMT, after scaling a record $4,966.59 earlier in the day.
* U.S. gold futures for February delivery added 1.1%
to $4,964.60 per ounce.
* EU leaders heaved a sigh of relief over U.S. President
Donald Trump's U-turn on Greenland as they met for an emergency
summit in Brussels late on Thursday while issuing a warning that
they were ready to act if Trump was to threaten them again.
* Trump for his part said he had secured total and permanent
U.S. access to Greenland in a deal with NATO, whose head said
allies would have to step up their commitment to Arctic security
to ward off threats from Russia and China.
* But the details of any agreement were unclear and Denmark
insisted its sovereignty over the island was not up for
discussion.
* U.S. consumer spending increased solidly in November and
October, likely keeping the economy on track for a third
straight quarter of strong growth, but the labor market is still
stuck in what economists and policymakers have termed a
"low-hiring, low-firing" state.
* The dollar index fell to a more than two-week low
on Friday, making greenback-priced metals cheaper for overseas
buyers.
* Markets still anticipate the Fed to deliver two
quarter-percentage point rate cuts in the latter half of the
year, raising non-yielding gold's appeal.
* Spot silver rose 0.9% to $97.01 an ounce, after
hitting a record high of $97.44 earlier.
* Spot platinum gained 1.4% to $2,665.85 per ounce
after hitting a record $2,684.43 earlier, while palladium
edged 0.1% lower to $1,917.50.
DATA/EVENTS (GMT)
0700 UK Retail Sales MM, YY Dec
0700 UK Retail Sales Ex-Fuel MM Dec
0745 France Business Climate Mfg, Overall Jan
0815 France HCOB Mfg, Svcs, Comp Flash PMIs Jan
0830 Germany HCOB Mfg, Svcs, Comp Flash PMIs Jan
0900 EU HCOB Mfg, Svcs, Comp Flash PMIs Jan
0930 UK HCOB Mfg, Svcs, Comp Flash PMIs Jan
1445 US S&P Global Mfg, Svcs, Comp PMIs Flash Jan
1500 US U Mich Sentiment Final Jan
- EU Consumer Confid. Flash Jan
- Japan JP BOJ Rate Decision Jan
(Reporting by Ishaan Arora in Bengaluru; Editing by Subhranshu
Sahu)