Gold hovers near 1-week low as dollar firms after US data
Gold lingered near a one-week low on Thursday following five consecutive sessions of declines, while the dollar sat atop mid-March highs after data showed the U.S. services sector unexpectedly gained steam in August.
FUNDAMENTALS
* Spot gold was up 0.1% to $1,917.99 per ounce by 0120 GMT, its lowest level since Aug.
29. U.S.
gold futures fell 0.1% to $1,942.20.
* World stock indexes fell while the benchmark U.S. Treasury yield rose and the U.S.
dollar hit its highest in six months after stronger-than-expected U.S. services sector data on Wednesday suggested inflation pressures remain.
* Federal Reserve Bank of Boston President Susan Collins said while there are signs of progress in cooling inflation, the central bank should proceed carefully when it comes to its next monetary policy steps.
* European Central Bank policymakers warned investors that a rise in borrowing costs was among the options on the table next week.
* The Bank of England is «much nearer» to ending its run of interest rate increases, Governor Andrew Bailey said on Wednesday.
* Higher U.S.
