Gold slips on US Fed rate views
FUNDAMENTALS
Spot gold had slipped nearly 0.2 percent to USD
1,325.60 an ounce by 0120 GMT.
US gold futures dropped 0.3 percent to USD 1,329
an ounce.
The dollar index, which measures the greenback
against a basket of currencies, was down 0.1 percent at 95.219.
US
wholesale inventories were unchanged in July as previously reported and sales
recorded their biggest drop in six months, suggesting a modest boost to
third-quarter economic growth from inventory investment.
Hedge funds and money managers hiked their net
long position in COMEX gold contracts to a nine-week high in the week to Sept.
6, as they also raised a bullish stance in silver, US Commodity Futures Trading
Commission data showed on Friday.
SPDR Gold Trust, the world's largest gold-backed
exchange-traded fund, said its holdings fell 1.12 percent to 939.94 tonnes on
Friday.
MARKET REPORT
Asian shares slipped on Monday with investors
rattled by rising bond yields and talk the Fed might be serious about lifting
US interest rates as early as next week.
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