MANILA, Aug 3 (Reuters) - Gold edged lower early on Monday,
trading near a 5-1/2-year low, as expectations for a near-term
hike in U.S. interest rates kept up the downward pressure after
bullion fell the most since 2013 in July.
FUNDAMENTALS
* Spot gold XAU= was down 0.2 percent at $1,092.80 an
ounce by 0019 GMT. The metal fell as low as $1,079.50 on Friday
before recovering at the close. That was near last month's
trough of $1,077, its weakest since February 2010.
* Bullion lost almost 7 percent in July, its deepest monthly
fall since June 2013.
* U.S. gold for December delivery GCcv1 slipped 0.2
percent to $1,092.50 an ounce.
* Hedge funds and money managers maintained their first
bearish stance in COMEX gold on record during the week ended
July 28, suggesting the recent mass exodus from bullion was more
than a knee jerk reaction. ID:nL1N10B265
* Billionaire hedge fund manager John Paulson, one of the
world's most influential gold investors, said the metal is now
at an appropriate price level, following last month's rout.
ID:nL5N10B4VC
* American Eagle gold coin sales surged to the highest in
more than two years, U.S. Mint data showed, as tumbling prices
spurred a buying spree in the United States. ID:nL1N10B2MS
* In Asia, gold demand hardly perked up last week with many
would-be buyers predicting further price declines, keeping
premiums steady in the world's top gold consuming region.
GOL/AS
* Members of South Africa's Association of Mineworkers and
Construction Union on Sunday rejected a wage offer from gold
producers of increases of up to 17 percent, spokesman Manzini
Zungu said. ID:nL5N10D0KH
* For the top stories on metals and other news, click
TOP/MTL or GOL/
MARKET NEWS
* Asian shares dipped, taking their from a lower Wall
Street, while the dollar was on the defensive against the euro
and yen following disappointing U.S. wage growth data that
dented prospects for an early interest rate hike by the Federal
Reserve. MKTS/GLOB
DATA AHEAD (GMT)
0145 China Caixin manufacturing PMI final July
0800 Euro zone Markit manufacturing PMI final July
1230 U.S. Personal consumption June
1400 U.S. Construction spending June
1400 U.S. ISM manufacturing PMI July