Gold edged lower on Tuesday as the dollar recovered, retreating from a five-week high as investors started to factor in expectations that the U.S. Federal Reserve will maintain its stimulus measures well into early 2014.
The Fed b
Gold steadied around two-month highs on Monday on uncertainty about a possible reduction in US monetary stimulus, and supported by the first net weekly flow into the top exchange-traded gold fund in months.
Spot gold was down slig
Gold hit its highest in three weeks on Thursday as uncertainty about potential US Federal Reserve stimulus reduction kept the dollar under pressure, while holdings in the world's top gold-backed exchange traded fund (ETFs) rose.
Gold erased early gains on Tuesday, struggling to stay above $1,300, as strong global economic data dented its safe-haven appeal and physical buying in top consumers India and China remained subdued.
The metal rose early in Asian
Gold edged higher on Monday after softer-than-expected US nonfarm payroll data eased fears of an imminent tapering of the Federal Reserve's stimulus measures.
Gold had fallen below $1,300 last week after strong US gross domest
Gold gained on Wednesday as the metal's strong performance in July prompted some month-end buying from funds, as traders awaited further clarity from the US Federal Reserve on the timing of any pull-back in stimulus measures.
Gold edged higher on Friday, staying on track for its third straight weekly gain, helped by a weaker dollar and hopes of a prolonged period of easy monetary policy.
Bullion has gained nearly 10 percent in three weeks – its b
Gold inched lower on Wednesday, pulling back from a near six-month high in the previous session after weak US data reinforced speculation of imminent stimulus action, as investors await a key meeting of the European Central Bank this week.
Spot gold was steady in thin trade on Friday, ahead of a key US employment report that is expected to show improvement in the labor market and boost optimism on prospects for the world's largest economy.
But stronger-than-expected payr
Spot gold regained some ground and platinum group metals returned to positive territory, as bargain hunting lent support, after prices lost about one per cent in early trade in response to China's interest rate increase on Saturd