Reuters logo
in 8 months
PRECIOUS-Gold rises from 10-month lows as dollar sags
December 2, 2016 / 1:10 AM / in 8 months

PRECIOUS-Gold rises from 10-month lows as dollar sags

3 Min Read

Dec 2 (Reuters) - Gold recovered from its lowest level since
early February on Friday, snapping three sessions of losses, as
the dollar fell against a basket of currencies ahead of U.S.
payrolls data due later in the day.
  
    FUNDAMENTALS
    * Spot gold was up 0.3 percent at $1,174.10 an ounce
by 0035 GMT. The metal dropped its lowest since Feb. 5 at
$1,160.38 in the previous session. 
    * Gold was trading down 0.7 percent for the week, on track
to post a fourth consecutive weekly decline.
    * U.S. gold futures gained 0.6 percent at $1,176.50
per ounce.
    * The dollar sagged early on Friday against its peers as
investors took a cautious view ahead of a looming U.S. jobs
report that could set the tone in coming days. 
    * U.S. factory activity accelerated to a five-month high in
November amid a pickup in new orders and production, suggesting
that the manufacturing sector was regaining its footing after a
prolonged slump. 
    * Dallas Federal Reserve Bank President Robert Kaplan on
Thursday said he is keeping his forecast for 2-percent U.S. GDP
growth next year intact despite the possibility of new economic
policies from the incoming U.S. president. 
    * The ECB will extend its bond purchases beyond March and
consider sending a formal signal after its policy meeting next
Thursday that the programme will eventually end, senior sources
with direct knowledge of discussions said. 
    * The Perth Mint said on Thursday that its sales of gold and
silver products fell in November. 
    * India's overseas purchases of gold could halve this month
after jumping to the highest level in 11 months in November
because retail demand has faltered due to the government's move
to scrap high-value currency notes, industry officials told
Reuters. 
    * SPDR Gold Trust, the world's largest gold-backed
exchange-traded fund, said its holdings fell 1.54 percent to
870.22 tonnes on Thursday from 883.86 tonnes on Wednesday.
 
    * For the top stories on metals and other news, click
 or 
       
  DATA AHEAD (GMT)
  1000  Euro zone    Producer prices           Oct 
  1330  U.S.         Nonfarm payrolls          Nov 
  1330  U.S.         Unemployment rate         Nov 
  1445  U.S.         ISM-New York index        Nov    

 (Reporting by Apeksha Nair in Bengaluru; Editing by Richard
Pullin)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below