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The package, aimed primarily at home buyers and real estate developers, is expected this week, the paper quoted government officials as saying.

"There have been discussions on a task force for real estate similar to the one for infrastructure projects announced last week. The finance minister spoke about promoting rental housing sector. A new policy is in the works," one of the officials told BS.

Measures being considered include the creation of a task force, easing of interest subvention norms, new rental housing policy, lifting the affordable housing category cap, cutting processing time for housing applications under partial guarantee scheme, and expanding credit reach to small exporters, they added.

The task force will identify and revive stalled projects while the recent circular by the National Housing Board (NHB), prohibiting interest subvention for housing loans, would be under review.

Finance Minister Nirmala Sitharaman might also lift the affordable housing category cap in metro cities from the present Rs 45 lakh to Rs 1 crore.

The development follows long-standing demands for regulatory and tax changes as the sector suffered a steady decline in demand and a sharp liquidity crunch over the past four years.

Sitharaman, in her budget, proposed "several reforms to promote rental housing … a model tenancy law to be finalised and circulated to the states."

While announcing the first set of economic measures on August 23, Sitharaman also promised two more packages. The expectations are stronger after the finance minister and Urban Development Minister Hardeep Puri met with industry representatives.

Apart from real estate, the other anticipated announcement is goods and service tax (GST) e-wallet provision for exporters, the report added.

In June, Commerce and Industry Minister Piyush Goyal said that exporters should be able to take more and more export credit in foreign currency. The ministry is now looking at raising the share of foreign currency in total export credit much beyond the present level of about 50 per cent.

"The same has been forwarded to the RBI for consideration as its foreign exchange reserves can be used for providing a line of credit for swap to good banks for this purpose. This will result in cheaper foreign currency loans," a senior official said.

The ministry has also discussed in detail the possibility of easing norms for banks when it comes to lending export credit by extending the cap on banks from the present two percent, the official pointed out.

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* Silver hits highest level since April 2017

* Platinum scales near one-month high

* GRAPHIC-Gold in various currencies: http://tmsnrt.rs/1JxbO6Y

Aug 28 (Reuters) - Gold held close to a more than six-year high on Wednesday, after rising more than 1% in the previous session, as fears of a possible recession and the trade conflict between China and the United States drove investors to safe haven assets.

Spot gold XAU= was mostly unchanged at $1,542.71 per ounce, as of 1100 GMT. On Monday it touched $1,554.56, its highest since April 2013.

U.S. gold futures GCcv1 were steady at $1,551.90.

"There is some kind of consolidation at these price levels (around $1,550) and the market is assessing the next development in the U.S.-China trade saga

While there are expectations for monetary policy easing in the euro zone, inversion in U.S. Treasury yield curve increased hopes for further rates cuts by the U.S. central bankGold rose more than 1% on Tuesday as an inversion in the U.S. yield curve and disappointing U.S. economic data rekindled fears of a recession amid uncertainties around the trade dispute. US/ are beginning to think that the economy is not doing that well, there could be a possible recession, or more likely, a slowing economy, which means the Federal Reserve will have to cut rates and that supports gold," said John Sharma, an economist with National Australia Bank.

Federal funds futures FEDWATCH implied traders saw a 91% chance of a 25 basis-point rate cut by the U.S. central bank next month.Meanwhile, U.S. President Donald Trump on Monday predicted a trade deal with China but optimism wilted after China's foreign ministry spokesperson dismissed claims of phone calls between the two sides. "if there are some sort of tangible signs that the (trade) talks are going to restart, or at least that they are getting there, it would be a risk-on outcome and we can see yields go higher and push gold a bit lower," said Ilya Spivak, senior currency strategist with DailyFx.

On the technical front, bullion's 14-day relative strength index (RSI) was around 70, indicating that the commodity was approaching overbought territory.

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GBP/USD Exchange Rate Slumps on Reports Government Will Prorogue Parliaments

The Pound US Dollar (GBP/USD) exchange rate is falling sharply today, on the back of reports that the UK government will seek to prorogue government.

At the time of writing the GBP/USD exchange rate is trading at around $1.2202 this morning, down around 0.6% from today’s opening levels.

How Will the Suspension of Parliament Impact the Pound (GBP)?

The Pound (GBP) has been met by a heavy sell-off this morning on the back of reports indicating that the UK government plans to prorogue parliament.

The BBC reports Boris Johnson’s government will ask the Queen to suspend parliament early next month, to allow the new administration to hold a Queen’s speech to outline the government’s future policy.

However this means that Parliament will sit for just a few days after MPs return from their summer recess, leaving MP’s little time to pass legislation to block a no-deal Brexit.

Sterling previously strengthened this week as opposition parties announced that they had agreed a strategy to prevent a no-deal Brexit through legislative measures.

These gains have effectively been wiped out today as the government’s move to prorogue parliament is thought to have greatly increase the chances of a no-deal Brexit.

Its likely Sterling will now face a sell-off bias over the next couple of months as UK politics become increasingly turbulent as the UK faces a cliff-edge Brexit.

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 The U.S. dollar steadied on Wednesday in Asia after falling overnight amid Sino-U.S. trade uncertainties and an inversion of the U.S. yield curve. 

The U.S. dollar index that tracks the greenback against a basket of other currencies was up 0.1% to 97.998 by 12:58 AM ET (04:58 GMT).

Developments in the trade dispute between the U.S. and China remained in focus. U.S. President Donald Trump claimed Monday that Chinese officials had called and offered to resume negotiations, but Beijing claimed the next day that it is not aware the phone call took place. 

Tensions between the two sides escalated late last week after both the U.S. and China announced new tariff measures and Trump appeared to threaten to use emergency powers to force U.S. companies to stop making goods in China.

Meanwhile, the yield on the benchmark 2-year Treasury note fell to 1.526% overnight, creating an “inverted yield curve,” a phenomenon that has presaged several past U.S. recessions and sparked concerns among traders.

The AUD/USD pair slipped 0.2% to 0.6737, continuing its downward momentum after Reserve Bank of Australia Deputy Governor Guy Debelle said a weakening domestic currency was supporting the economy and that further falls would be beneficial.

A bleaker economic outlook in China, Australia's largest trading partner, was also cited as headwind for the Aussie dollar.

The NZD/USD pair fell 0.4% to 0.6335.

The USD/JPY pair rose 0.1%.

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