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BENGALURU, Oct 8 (Reuters) – Gold prices edged down on Monday, as the dollar firmed after China's central bank eased its domestic policy of supporting the economy.
FUNDAMENTALS
* Spot gold was down 0.2% to $ 1,200.31 an ounce at 10:03 am GMT. He gained 0.9% last week.
* Gold futures in the United States fell 0.1% to $ 1,204.40 ounce.
* The dollar was up 0.1% against a basket of six major currencies.
* The Chinese central bank on Sunday announced a sharp reduction in the level of liquidity that banks should keep as reserves, intensifying efforts to reduce financing costs and stimulate growth in the face of concerns over the economic slowdown caused by a growing trade dispute with the United States.
* Employment growth in the United States slowed sharply in September, likely due to the depreciation of restaurant and retail employment in Hurricane Florence, but the unemployment rate fell to 3, 7%, its lowest level in 49 years, suggesting further tightening of the labor market.
* The US Treasury bond market fell for a third consecutive day on Friday as its 10-year yield reached its highest level in the last seven years, as strong wage reports fueled concerns over rising US inflation. inflation and rising interest rates.
* Chairman of the New York Federal Reserve John Williams on Friday approved the idea that the Fed will raise rates once again this year and three times next year.
* A bond market defeat that drove yields to key levels led some investors to prepare for another step that could finally end a three-decade uptrend.
* The European Commission told Italy that it was concerned about its budget deficit plans for the next three years, as they were violating what the EU had asked its country to do in July but Rome insisted Saturday not to "withdraw" from its spending plans.
The head of North Korean diplomacy, Kim Jong Un, has described his talks with US Secretary of State Mike Pompeo as "productive and extraordinary," KCNA state media said on Monday. a positive tone compared to the position previously adopted by the national media.
* Participation in SPDR Gold Trust, the largest gold-backed exchange-traded fund in the world, fell 0.20% to 23,475,548.77 ounces.
* Speculators reduced their short COMEX gold short position by 4,186 contracts, bringing it to 73,128 in one week to 2 October.
* Rising domestic prices weighed on the demand for physical gold in India, pushing retailers to offer the biggest rebates in three and a half months last week, while neighboring Bangladesh approved its first policy of regulating imports and exports of this metal. DATA AHEAD (GMT) 0145 China Caixin in the service of the PMI Sep 0600 Industrial production August 0830 Euro area Index Sentix Oct. 1400 United States Employment developments in September (Sumita Layek's report in Bengaluru, edited by Amrutha Gayathri)
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