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29-Aug2016

Gold futures edge lower as dollar strengthens

Gold futures edged lower on Monday as the dollar strengthened against a basket of major currencies after hawkish comments from Federal Reserve Chair Janet Yellen left the door open for a US interest hike as early as next month. This week, nonfarm payrolls data from the US is in the spotlight along with data on China's manufacturing sector, amid ongoing concerns over the health of the world's second biggest economy.

Gold futures for December delivery fell 0.18 percent to trade at $1,323.55 an ounce on the Comex division of the New York Mercantile Exchange. While, spot gold was down 0.33 percent to $1,316.46 an ounce.


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