SINGAPORE (Reuters) – Gold was trading in a tight range on Monday as markets fretted over when the U.S. Federal Reserve will start to taper its economic stimulus and as stronger equities dented the metal’s safe-haven appeal.
However, gold’s success in holding its ground on Friday despite strong U.S. nonfarm payroll data shows expectations of a December tapering may have already been priced in. Short covering could also offer some support in the near-term as investors re-adjust their expectations.
SINGAPORE (Reuters) – Gold steadied on Friday after choppy trading in the previous session and was headed for a weekly decline as improving U.S. economic data raised fears of an early end to monetary stimulus.
Investors are now awaiting U.S. non-farm payroll data, due to be released at 1330 GMT, which could provide more clues on the timing of the tapering of stimulus measures in the world’s largest economy.
SINGAPORE (Reuters) – Gold edged lower on Thursday following a short-covering rally in the previous session, weighed down by concerns the U.S. Federal Reserve could soon begin tapering its monetary stimulus on strong economic data.
Bullion prices rose the most in over a month on Wednesday despite strong data on U.S. private-sector hiring and service industry growth in the run up to the nonfarm payroll data on Friday.
SINGAPORE (Reuters) – Gold steadied on Wednesday after striking a 5-month low in the previous session, with investors awaiting more U.S. data to see whether a reduction in the Federal Reserve’s monetary stimulus is likely this month, which would reduce gold’s attraction as a hedge against inflation.
Spot gold had eased 0.2 percent to $1,221.64 an ounce by 0325 GMT. It traded in a narrow range on Tuesday slipping to $1,215.60 – fresh lows since early July – despite weakness in equities and the U.S. dollar.
SINGAPORE/MUMBAI (Reuters) – Indian gold smugglers are adopting the methods of drug couriers to sidestep a government crackdown on imports of the precious metal, stashing gold in imported vehicles and even using mules who swallow nuggets to try to get them past airport security.
Stung by rules imposed this year to cut a high trade deficit and a record duty on imports, dealers and individual customers are fanning out across Asia to buy gold and sneak it back into the country.
SINGAPORE/MUMBAI, Dec 4 (Reuters) – Indian gold smugglers
are adopting the methods of drug couriers to sidestep a
government crackdown on imports of the precious metal, stashing
gold in imported vehicles and even using mules who swallow
nuggets to try to get them past airport security.
Stung by rules imposed this year to cut a high trade deficit
and a record duty on imports, dealers and individual customers
are fanning out across Asia to buy gold and sneak it back into
SINGAPORE (Reuters) – Gold traded near a five-month low on Tuesday as strong U.S. economic data stoked fears of an early end to the Federal Reserve’s monetary stimulus, and the metal appeared vulnerable to further declines as more data is due this week.
Spot gold slid 2.6 percent on Monday – its biggest one-day fall in two months – after data showed a gauge of U.S. factory activity hit a 2-1/2-year high in November and construction spending increased solidly in October.
SINGAPORE (Reuters) – Gold dropped on Monday, with investors jittery ahead of key U.S. data this week that could provide clues on when the Federal Reserve will begin scaling back its monetary stimulus.
U.S. data including nonfarm payrolls, third quarter GDP and manufacturing PMI will be released this week, giving more insight into the strength of the economy.
SINGAPORE (Reuters) – Gold eased on Friday and was headed for its biggest monthly drop since June as a recovering U.S. economy prompted investors to shift money to rallying equities, amid expectations of an end to easy central bank money.
Gold has shed 6 percent for the month and has lost more than a quarter of its value so far this year, which puts it on track to post its first annual loss in 13 years.
SINGAPORE, Nov 27 (Reuters) – China’s net gold imports from
Hong Kong climbed to their second-highest on record in October,
as the country bought more than 100 tonnes of gold for a sixth
straight month to meet unprecedented demand.
The imports – the biggest since an all-time high in March -
show that banks and retailers expect to see strong demand in the
build up to Chinese New Year in late January, when gold is
bought for gifts.