Gold
headed for the biggest weekly decline in more than two months as
investors looked to the U.S. nonfarm payrolls report Friday for signals
on the strength of the economy, which will help determine when the
Federal Reserve raises interest rates.
Bullion
for immediate delivery was at $1,113.13 an ounce at 8:43 a.m. in
Singapore from $1,113.61 Thursday, according to Bloomberg generic
pricing. Prices fell 2.9 percent this week, the most since the five days
ended July 24.
The
jobs data will be scrutinized for signs of whether China’s slowdown and
the steepest quarterly rout in global stocks since 2011 have shaken the
U.S. recovery. The Labor Department report is projected to show payroll
gains accelerated last month compared with August. Gold fell for five
straight quarters through Sept. 30 as the prospect of higher rates
reduced the metal’s appeal because it doesn’t pay interest.
Source: Bloomberg
0 komentar :
Post a Comment