Gold
held losses near a three-week low as investors assessed the strength of the
U.S. economy and when the Federal Reserve will begin to reduce stimulus.
Bullion
for immediate delivery was at $1,281.81 an ounce at 9:15 a.m. in Singapore from
$1,282.80 yesterday, when the metal fell for a third day to $1,279.16, the
lowest since Oct. 17.
Gold
lost 23 percent in 2013 as prospects for a recovery damped demand for haven
assets while inflation remained low. A report today may show confidence among
U.S. small businesses fell in October to match the lowest level since April,
after data last week showed U.S. employers added more workers than forecast.
Fed Bank of Minneapolis President Narayana Kocherlakota and Atlanta peer Dennis
Lockhart speak today.
Gold
for delivery in December was at $1,281.30 an ounce on the Comex from $1,281.10
yesterday, when prices reached $1,278.10, the lowest since Oct. 17. Trading
volume was 69 percent below the average for the past 100 days at this time.
Spot
silver lost 0.2 percent to $21.382 an ounce, dropping for a fourth day. Prices
declined to $21.2503 yesterday, the lowest level since Oct. 17.
Platinum
was little changed at $1,432.58 an ounce after reaching $1,425.48 yesterday,
also the lowest since Oct. 17. Palladium decreased 0.2 percent to $752.90 an
ounce.
(Source:
Bloomberg)
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