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.
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
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.
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.
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.
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.
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.
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.
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.
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.