Gold
fell for the first time in four days as Asian stocks extended a global
rout on concern over China’s slowdown and its impact on the world
economy.
Bullion
for immediate delivery declined 0.3 percent to $1,136.84 an ounce at
8:31 a.m. in Singapore, according to Bloomberg generic pricing. The
metal climbed 1.4 percent in the previous three days and jumped 3.6
percent in August, the biggest monthly gain since January.
Data
showing Chinese manufacturing at a three-year low reignited a global
share slump on Tuesday and the selloff continued in Asia. The Federal
Reserve is scrutinizing data to determine the timing and pace of its
first boost to borrowing costs since 2006. Attention will focus on the
government jobs report Friday as the last major data point before the
Fed meets Sept. 16-17.
Gold
futures for December lost 0.3 percent to $1,136.10 on the Comex in New
York. Silver for immediate delivery fell 0.3 percent to $14.5775 an
ounce. Platinum was little changed at $1,002.14 an ounce, while
palladium rose 0.2 percent to $573.35 an ounce after a 4.7 percent slump
on Tuesday.
Source: Bloomberg
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