Aug 3 (Reuters) - Gold steadied on Thursday after data showing a deterioration in euro zone business activity triggered some safe-haven inflows, but bullion held near three-week lows on a stronger dollar and higher bond yields.
Spot gold was nearly flat at $1,934.29 per ounce by 1204 GMT, having hit its lowest since July 11. U.S. gold futures fell 0.3% to $1,969.80...[LINK]
Good morning. The precious metals are lower in early U.S. trading.
U.S. calendar features Challenger Layoffs, Q2 Productivity Prelim, ULC, Initial Jobless Claims, Services PMI & ISM, Factory Orders.
While the dollar did not post a higher high for the move in the overnight action it remains a headwind for the gold bull camp.
Given the lack of a recovery in gold and silver following the downgrade of US credit by the rating agency Fitch the market is not sensitive to flight to quality issues.
In a second negative story, the World Gold Council indicated that Indian gold demand in the 2nd quarter declined by 7% from last year and suggested the slumping demand was the result of persistent record-high Rupee gold prices which reduced affordability and turned off consumer interest...[MORE]
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August 2 (Reuters) - Gold prices gained on Wednesday, helped by some safe-haven bids after Fitch downgraded the United States’ top credit rating, but an uptick in the dollar capped bullion’s gains.
Spot gold was up 0.5% to $1,952.79 per ounce at 1133 GMT, while U.S. gold futures rose 0.6% to $1,989.90...[LINK]
August 1 (Reuters) - Gold retreated on Tuesday as the dollar firmed and hopes of a soft landing for the U.S. economy dented safe-haven demand for bullion.
Spot gold eased 0.5% to $1,954.49 per ounce by 1136 GMT, while U.S. gold futures dropped 0.9% to $1,953.70...[LINK]
