MANILA, Sept 2 (Reuters) - Gold edged lower on Wednesday
after a four-day advance that had been fuelled as uncertainty
over the fate of China's economy hit global equities.
FUNDAMENTALS
* Spot gold XAU= was down 0.3 percent at $1,136.51 an
ounce by 0048 GMT, after touching a one-week high of $1,147.16
on Tuesday.
* U.S. gold for December delivery GCcv1 slipped 0.3
percent to $1,136.20 per ounce.
* Sustained losses in Asian equities could switch some funds
to gold after data showed U.S. factory activity hit a more than
two-year low in August, coming on the heels of a survey showing
China's manufacturing sector shrank at its fastest pace in three
years last month. ID:nL5N11715H
* The Federal Reserve will probably only gradually raise
interest rates, irrespective of whether it decides to take the
first step a few months earlier or later, Boston Fed President
Eric Rosengren said. ID:nN9N0ZQ01D
* All eyes will be on Friday's U.S. nonfarm payrolls with
economists saying strong employment growth in August could help
cement expectations that the Fed will raise interest rates for
the first time in nearly a decade at its next meeting on Sept.
16-17.
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MARKET NEWS
* Asian shares slipped after weak manufacturing activity
reports from both the U.S. and China sent Wall Street reeling,
while the dollar steadied after steep losses. MKTS/GLOB
DATA AHEAD (GMT)
0900 Euro zone Producer prices Jul
1215 U.S. ADP national employment Aug
1345 U.S. ISM-New York index Aug
1400 U.S. Factory orders Jul