🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

PRECIOUS-Gold holds above $1,300 on U.S. election jitters

Published 04/11/2016, 12:28 pm
Updated 04/11/2016, 12:30 pm
© Reuters.  PRECIOUS-Gold holds above $1,300 on U.S. election jitters
XAU/USD
-
GC
-
GLD
-
VTBR
-
MIAPJ0000PUS
-

Nov 4 (Reuters) - Gold was steady above $1,300 an ounce on Friday, with safe-haven appetite buoyed by signs the U.S. presidential election is tightening just days before next week's vote.

FUNDAMENTALS

* Spot gold XAU= was unchanged at $1,303.26 an ounce at 0104 GMT.

* U.S. gold futures GCcv1 were up about 0.1 percent at $1,304.30 per ounce.

* Hillary Clinton's supporters nervously eyed opinion polls showing the Democrat with a tenuous lead over Republican rival Donald Trump on Thursday, with the White House candidates racing through vital battleground states in a late search for votes ahead of Tuesday's election. The key nonfarm payrolls report will be released on Friday. Economists polled by Reuters are looking for non-farm employment to have risen by 175,000 in October from 156,000 in September. ECONUS

* Asian shares slipped on Friday and the dollar nursed losses in a week marked by growing uncertainty about the outcome of the U.S. presidential race. MKTS/GLOB

* MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was down about 0.3 percent on Friday.

* The Bank of England scrapped its plan to cut interest rates, which it said could now move up or down, and raised its forecasts for 2017 growth and inflation sharply due to the slide in sterling since Britain's vote to leave the EU. U.S. services industry activity cooled in October amid a slowdown in new orders and hiring, suggesting a moderation in economic growth early in the fourth quarter. A flurry of data from China in the coming weeks is expected to reinforce views that the world's second-largest economy is stabilising, despite stubbornly weak exports and worries that a property boom is peaking. VTB Capital VTBR.MM , the investment banking arm of Russia's second-biggest bank, plans to double its gold-trading volumes over the next three years from around 110-150 tonnes a year currently, said the firm's head of global commodities. SPDR Gold Trust GLD , the world's largest gold-backed exchange-traded fund, said its holdings rose 0.47 percent to 949.69 tonnes on Thursday. For the top stories on metals and other news, click TOP/MTL or GOL

DATA AHEAD (GMT)

0850 France

Markit services PMI

Oct

0855 Germany

Markit services PMI

Oct

0900 Euro zone

Markit services PMI final

Oct

1000 Euro zone

Producer prices

Sep

1230 U.S.

Nonfarm payrolls

Oct

1230 U.S.

Unemployment rate

Oct

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.