Gold dips in Asia
Gold fell to a two-week low on Friday, extending losses into a sixth straight session as investors positioned themselves ahead of US jobs data that could help gauge when the Federal Reserve will raise interest rates. Economists polled by Reuters expect Friday's nonfarm payrolls report to show US employers hired 203,000 workers in September, improving from August's 173,000 increase.
Copyright Reuters, 2015
Spot gold had eased 0.4 percent to $1,108.70 an ounce by 0649 GMT, after dipping to $1,107.55 earlier in the session - the lowest since September 16. It has lost nearly 3 percent for the week, its biggest such decline since the week ended July 24. "Our call for gold prices to touch $1,050 at year-end is still very much intact on the grounds for a Fed fund rate hike before the year is up," said OCBC analyst Barnabas Gan.