SINGAPORE, Sept 14 (Reuters) - Gold extended losses on
Monday to trade near its lowest in a month, as investors waited
for a Federal Reserve policy meeting later this week for clarity
on when the U.S. central bank will hike interest rates.
FUNDAMENTALS
* Spot gold XAU= had dropped 0.2 percent to $1,105.40 an
ounce by 0024 GMT, after losing 0.3 percent on Friday. The metal
had fallen to $1,098.35 in the previous session, its lowest
since Aug. 11.
* U.S. gold GCcv1 edged up 0.2 percent to $1,104.90.
* The Fed will kick off a two-day policy meet on Wednesday,
with a statement expected on Thursday.
* Gold prices have been hurt this year by uncertainty over
the timing of the Fed's first rate hike in nearly a decade.
* Gold has benefited in recent years from ultra-low rates,
which cut the opportunity cost of holding non-yielding bullion
while weighing on the dollar, in which it is priced.
* Concerns over slowing economic growth in China, mixed
economic data and volatility in financial markets have increased
uncertainty about the timing of any U.S. rate increase, which
had been expected as early as this month.
* Data on Friday showed U.S. consumer sentiment hit its
lowest in a year in early September and producer prices were
flat in August, signalling moderate economic growth and tame
inflation that could weigh on the Fed's decision whether to hike
interest rates. ID:nL1N11H0LY
* Hedge funds and money managers cut their bullish stance in
COMEX gold contracts to a three-week low in the week ended Sept.
8, U.S. Commodity Futures Trading Commission data showed on
Friday. ID:nL1N11H1T4
* Gold coin sales in the United States and Europe have
surged in the third quarter, with sales from the U.S. Mint
reaching levels not seen since the price crash of 2013, as low
prices and a series of market shocks fuel retail buying.
ID;nL5N11H1ZN
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MARKET NEWS
* The dollar, euro and yen all got off to a slow start on
Monday with investors sticking to the sidelines as the countdown
begins on whether the Fed will hike interest rates for the first
time in nearly a decade. USD/
DATA AHEAD (GMT)
0430 Japan Industrial production Jul
0900 Euro zone Industrial production Jul
PRICES AT 0024 GMT
Metal Last Change Pct chg
Spot gold 1105.4 -2.1 -0.19
Spot silver 14.56 -0.05 -0.34
Spot platinum 968 3.5 0.36
Spot palladium 594.35 2.13 0.36
Comex gold 1104.9 1.6 0.15
Comex silver 14.535 0.03 0.21
Euro 1.1345
DXY 95.132
COMEX gold and silver contracts show the
most active months