FUNDAMENTALS
* Spot gold rose 0.2% to $1,719.19 an ounce, by 0144 GMT.
* US gold futures rose 0.5% to $1,728.50.
* Benchmark 10-year U.S. Treasury yields fell after posting their biggest one-day jump since Sept. 26 on Wednesday, while the dollar index was flat.
* Lower yields decrease the opportunity cost of holding gold, which earns no interest.
* San Francisco Federal Reserve Chair Mary Daly on Wednesday underlined the US central bank’s commitment to rein in inflation with more rate hikes, although she said the Fed would not just forward if the economy started to crack.
* On Wednesday, the ADP’s National Jobs Report showed private employers increased hiring last month, while separately the Institute for Supply Management’s (ISM) non-manufacturing PMI index was down slightly above expectations, suggesting underlying strength in the economy despite rising interest rates.
* Investors should focus on U.S. nonfarm payrolls data due Friday.
* Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.18% to 946.34 tonnes on Wednesday, their third consecutive day of inflows.
* Spot silver fell 0.3% to $20.64 an ounce, platinum was flat at $919.11 and palladium rose 0.7% to $2,262.32.
DATA/EVENTS (GMT)
0030 Australia G&S Trade Balance August
0500 India S&P Global Svcs PMI Sept
0600 Germany Industrial Controls MM August
0600 Germany Manufacturing O/P Cur Price SA Aug
0600 Germany Consumer Goods SA August
0830 UK All-Sector PMI September
1230 US Initial Clm unemployed weekly
FUNDAMENTALS
* Spot gold rose 0.2% to $1,719.19 an ounce, by 0144 GMT.
* US gold futures rose 0.5% to $1,728.50.
* Benchmark 10-year U.S. Treasury yields fell after posting their biggest one-day jump since Sept. 26 on Wednesday, while the dollar index was flat.
* Lower yields decrease the opportunity cost of holding gold, which earns no interest.
* San Francisco Federal Reserve Chair Mary Daly on Wednesday underlined the US central bank’s commitment to rein in inflation with more rate hikes, although she said the Fed would not just forward if the economy started to crack.
* On Wednesday, the ADP’s National Jobs Report showed private employers increased hiring last month, while separately the Institute for Supply Management’s (ISM) non-manufacturing PMI index was down slightly above expectations, suggesting underlying strength in the economy despite rising interest rates.
* Investors should focus on U.S. nonfarm payrolls data due Friday.
* Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.18% to 946.34 tonnes on Wednesday, their third consecutive day of inflows.
* Spot silver fell 0.3% to $20.64 an ounce, platinum was flat at $919.11 and palladium rose 0.7% to $2,262.32.
DATA/EVENTS (GMT)
0030 Australia G&S Trade Balance August
0500 India S&P Global Svcs PMI Sept
0600 Germany Industrial Controls MM August
0600 Germany Manufacturing O/P Cur Price SA Aug
0600 Germany Consumer Goods SA August
0830 UK All-Sector PMI September
1230 US Initial Clm unemployed weekly