| Gold is likely to find limited support on the downside in the absence of firm physical demand coupled with muted investor appetite, a report by Barclays said. Gold prices dropped to two-month lows, remaining below the $1300/oz mark last week following stronger-than-expected data from the US and hawkish comments from the Fed.
In the US, key data released last week were stronger than expected, ranging from existing home sales, the Philly Fed manufacturing index, the Conference Board’s index of leading indicators, to the weekly unemployment claims. The August employment report (due September 5) is likely to show solid employment growth of 200k and the unemployment rate to decline 0.1%, to 6.1%...............................................Full Article: Source
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