MANILA, Nov 10 (Reuters) - Gold was near a three-month low on Tuesday on expectations the U.S. Federal Reserve is well on track to raise interest rates before the year is over.
FUNDAMENTALS
* Spot gold XAU= was little changed at $1,091.40 an ounce by 0037 GMT, not far above Friday's low of $1,084.90 when strong U.S. employment data for October fuelled speculation the Fed will increase interest rates at its policy meeting next month.
* The metal ended an eight-day losing run on Monday, but not enough to pull it far away from last week's lows.
* Following bullion's recent steep drop, MKS Group trader James Gardiner said "a bounce, or at least a consolidation, is well overdue." He pegs the next support level for gold at around $1,074 and then at $1,050.
* U.S. gold for December delivery GCcv1 gained 0.2 percent to $1,090.30 an ounce.
* While the market braces for the first U.S. rate hike since 2006, a consensus is forming at the European Central Bank to take the interest rate it charges banks to park money deeper into negative territory in December, in a move that could weaken the euro and push up inflation. urn:newsml:reuters.com:*:nL8N134447
* Lonmin LMI.L LONJ.J priced its $407 million share issue at a 94 percent discount as the platinum miner fights for survival in the face of low prices and after knocking $1.8 billion off the value of its assets. urn:newsml:reuters.com:*:nL8N1340YT
* AngloGold Ashanti ANGJ.J said it lost 47,000 ounces in production in South Africa during the three months to the end of September because of government mandated safety stoppages in a quarter in which five of its miners died on the job. urn:newsml:reuters.com:*:nL8N13409V
* For the top stories on metals and other news, click TOP/MTL or GOL
MARKET NEWS
* The dollar hovered just below a seven-month peak against a basket of major currencies, having consolidated its payrolls-inspired rally in a subdued session overnight. USD/
* Asian shares slipped to one-month lows as the spectre of higher borrowing costs in the United States and slower global economic growth prompted investors to trim their exposure to riskier assets. MKTS/GLOB
DATA AHEAD (GMT)
0130 China
Consumer prices
Oct
0130 China
Producer prices
Oct
0745 France
Industrial output
Sep
1100 U.S.
NFIB business optimism
Oct
1330 U.S.
Import prices
Oct
1330 U.S.
Export prices
Oct
1500 U.S.
Wholesale inventories
Sep