Asia Precious Metals Correspondent, Singapore
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Nov 9, 2015

Gold near three-month low after robust U.S. jobs report

SINGAPORE (Reuters) – Gold ticked up after an eight-day losing streak on Monday, but languished near its lowest in three months as surging U.S. nonfarm payrolls boosted expectations of a December rate hike in the United States.

Employers outside the farming sector added 271,000 jobs in October, the most in 10 months, and the jobless rate fell to a 7-1/2-year low of 5 percent, data on Friday showed. Economists had forecast nonfarm payrolls increasing 180,000 and the unemployment rate remaining at 5.1 percent.

Nov 7, 2015

China’s gold reserves likely rose by 14 tonnes in October

SINGAPORE, Nov 7 (Reuters) – China likely added about 14
tonnes of gold to its reserves in October, according to Reuters
calculations from central bank data on Saturday.

The value of China’s gold reserves stood at $63.261 billion
at the end of October, compared with $61.189 billion at the end
of September, the People’s Bank of China (PBOC) said on its

Nov 6, 2015

Gold hovers near eight-week low ahead of U.S. jobs data

SINGAPORE (Reuters) – Gold languished near an eight-week low on Friday and was set to post its biggest weekly drop since July as investors positioned themselves for a possible U.S. rate hike this year, pulling money out of bullion funds.

Market participants are now waiting for the U.S. nonfarm payrolls report due later in the day for indications on the strength of the economy and how it would affect the Federal Reserve’s monetary policy.

Nov 5, 2015

Gold near one-month low as Yellen signals December rate hike

SINGAPORE (Reuters) – Gold held near a one-month low on Thursday and looked likely to drop below the $1,100-an-ounce level after Federal Reserve Chair Janet Yellen bolstered market expectations for a U.S. interest rate hike in December.

Yellen pointed to a possible December interest rate lift-off and laid out what now appears the base case at the U.S. central bank – that low unemployment, continued growth and faith in a coming return of inflation means the country is ready for higher interest rates.

Nov 4, 2015

Gold near four-week low on US rate hike fears, fund outflows

SINGAPORE (Reuters) – Gold steadied after a five-day slide on Wednesday, but stayed within striking distance of a four-week low as investors positioned for a U.S. rate hike this year.

Prices could remain under pressure from weak technicals and outflows from exchange-traded funds (ETFs) that have hit precious metals across the board.

Nov 3, 2015

Gold stuck near four-week low on U.S. rate hike view

SINGAPORE (Reuters) – Gold steadied after a four-day decline on Tuesday but languished near a four-week low as investors dumped the metal on expectations the Federal Reserve would hike U.S. rates this year.

The Fed last week firmly put a December rate rise in play, hurting earlier views that the increase in nearly a decade could be pushed to next year on global growth concerns.

Nov 2, 2015

Gold dips to four-week low on U.S. rate hike fears

SINGAPORE (Reuters) – Gold fell to its lowest level in four weeks on Monday, extending a sell-off into a fourth straight session as investors feared the Federal Reserve would hike U.S. interest rates this year.

The technical picture for gold has deteriorated, with traders warning of further price drops. Physical demand and investor flows have also not supported the metal.

Oct 30, 2015

Asia Gold-Buying picks up in small volumes as prices dip to 3-week low

SINGAPORE/MUMBAI, Oct 30 (Reuters) – Gold demand in Asia saw
some uptick towards the end of the week, after a muted start, as
the metal’s drop to a three-week low attracted buyers.

Local premiums, however, remained largely unmoved, a sign
that demand hasn’t picked up in a significant way.

Oct 30, 2015

Gold eyes worst week in two months on U.S. rate hike view

SINGAPORE (Reuters) – Gold held near its lowest in three weeks on Friday and looked set to post its worst week in two months on expectations that the Federal Reserve would raise U.S. interest rates this year.

More downside is expected, analysts and traders said, with the looming U.S. rate hike set to hit demand for the non-interest-paying asset, and also as the technical picture has weakened.

Oct 29, 2015

Gold near two-week low as Fed puts December rate hike in play

SINGAPORE (Reuters) – Gold ticked up on Thursday but stayed near its lowest level in two weeks after the Federal Reserve hinted at a possible U.S. rate hike in December, bolstering the dollar and reducing the appeal of non-interest-paying bullion.

Spot gold rose 0.3 percent to $1,159.50 an ounce by 0330 GMT, following a 1 percent slide in the previous session. The metal fell on Wednesday to $1,152, its lowest since Oct. 13.

    • About Ananthalakshmi

      "Anantha is responsible for Reuters' gold coverage in Asia, the biggest consumer of the precious metal. Based in Singapore, she tracks the day-to-day market movement of gold prices during Asian hours, fund flows and central bank purchases. She also covers the physical markets in key buyers China and India. Anantha used to cover U.S. companies earlier from Bangalore."
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