Gold costs prolonged losses on Monday, after their worst week in 5 months, on lingering danger urge for food, whereas the Sino-U.S. commerce relationship hinted at potential enchancment.
* Spot gold was down 0.5% at $1,934.91 per ounce by 0036 GMT. Gold fell 4.5% final week, its greatest weekly decline since March.
* U.S. gold futures eased 0.3% to $1,943.50 per ounce.
* A raise in U.S. bond yields gave the greenback some respite after weeks of losses. A stronger buck makes gold cheaper for holders of different currencies.
* Asian markets had been flat close to current highs; whereas inventory index futures indicated that U.S. equities will make reasonable positive factors on Monday forward of retail earnings.
* Worldwide, there are over 21.58 million folks contaminated by the coronavirus and 766,383? have died, based on a Reuters tally.
* Japan’s economic system shrank for the third straight quarter, marking the largest contraction on document, because the pandemic continues to take its toll.
* U.S. retail gross sales elevated lower than anticipated in July, and will sluggish even additional within the coming months.
* Speculators decreased their bullish positions in COMEX gold and silver contracts within the week to Aug. 11, the U.S. Commodity Futures Buying and selling Fee (CFTC) stated on Friday.
* In a attainable signal of easing tensions after a protracted commerce battle, China elevated U.S. oil purchases on Friday forward of a commerce deal assessment.
* SPDR Gold Belief GLD , the world’s largest gold-backed exchange-traded fund, stated its holdings fell 0.30% to 1,248.29 tonnes on Friday.
* Silver slipped 0.6% to $26.25 per ounce. Platinum XPT= rose 1% to $945.55, and palladium gained 1.6% to $2,143.09.
DATA/EVENTS (GMT) 1000 EU Reserve Belongings Complete July
(Reporting by Harshith Aranya in Bengaluru; Enhancing by Rashmi Aich) ((firstname.lastname@example.org; Inside U.S. +1 651 848 5832, Exterior U.S. +91 80 6182 2599; Reuters Messaging: email@example.com))