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PRECIOUS-Gold retains 2-day decline ahead of U.S. jobs data
September 4, 2015 / 12:53 AM / 2 years ago

PRECIOUS-Gold retains 2-day decline ahead of U.S. jobs data

SINGAPORE, Sept 4 (Reuters) - Gold held declines from a
two-day losing streak on Friday, ahead of a crucial U.S. jobs
report as traders waited for clues about the timing of a Federal
Reserve rate hike. 
    * Spot gold was little changed at $1,125.31 an ounce
by 0040 GMT, after losing about 1 percent in the last two
sessions. The metal fell to a one-week low of $1,121.35 on
    * U.S. gold was also firm at $1,124.90.
    * Bullion came under pressure on Thursday as the dollar
ticked higher after European central bankers cut economic growth
targets and left interest rates unchanged. 
    * The greenback also gained on U.S. weekly jobless claims
data that signalled strength in the labour markets, the day
before Friday's August jobs report, which may be crucial for Fed
policymakers considering raising interest rates. 
    * Strong economic data could prompt the Fed to raise rates
sooner than later, hurting non-interest-paying bullion and
boosting the dollar.
    * The U.S. non-farm payrolls due later today come just days
ahead of a Fed policy meet on Sept. 16-17. 
    * Also weighing on bullion was the absence of Chinese buyers
with markets in the major gold consumer closed through Friday
for public holidays.
    * In other industry news, Russia produced 113.3 tonnes of
gold in the first half of 2015 down from 115.6 tonnes in the
same period a year ago, its finance ministry said in a statement
on Thursday.
    * A Dubai-based gold and jewellery retailer that defaulted
on loans worth about 500 million dirhams ($136 million) has
asked banks for time to put together a repayment plan, the
company said on Thursday.    
    * For the top stories on metals and other news, click
    * The euro nursed losses early on Friday, having come under
broad pressure after the European Central Bank gave a sobering
assessment of the euro zone economy and suggested it may have to
beef up its already massive stimulus program. 
    0600 Germany industrial orders for July 
    1230 US Non-Farm Payrolls for August 
    1230 US Unemployment Rate for August
    PRICES AT 0040 GMT
 Metal            Last      Change  Pct chg
 Spot gold         1125.31    0.46     0.04
 Spot silver         14.66   -0.11    -0.74
 Spot platinum     1003.49    2.49     0.25
 Spot palladium      573.5     0.5     0.09
 Comex gold         1124.9     0.4     0.04
 Comex silver        14.67  -0.037    -0.25
 Euro                1.113                 
 DXY                96.316                 
 COMEX gold and silver contracts show the
 most active months
 (Reporting by A. Ananthalakshmi; Editing by Joseph Radford)

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