WHOLESALE PRICES to buy gold rose to 7-session highs in London on Thursday morning, touching $1726 per ounce even as new data showed US employment rising at its fastest pace since February.
The private-sector ADP payrolls report said the US added 158,000 jobs in October. Earlier data from the manufacturing sector in China, the world's #2 gold consumer, showed its slowdown to be easing.
The private-sector ADP payrolls report said the US added 158,000 jobs in October. Earlier data from the manufacturing sector in China, the world's #2 gold consumer, showed its slowdown to be easing.
However, "Over 17% of survey respondents reported a fall in the volume of new export orders," said the new Purchasing Managing Index report from HSBC/Markit Economics, "and just under 10% noted an increase."
Two-thirds of Chinese businesses reporting quarterly results to the stock market have seen a sharp rise in unpaid bills according to the Financial Times.
The People's Bank of China has this week pumped a record $60 billion-worth of liquidity into its domestic money market.
Two-thirds of Chinese businesses reporting quarterly results to the stock market have seen a sharp rise in unpaid bills according to the Financial Times.
The People's Bank of China has this week pumped a record $60 billion-worth of liquidity into its domestic money market.
"Gold has been finding support on approach of $1700," says today's note from Standard Bank's commodities team.
