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  1. Gold holds losses as dollar gains versus yen

Gold holds losses as dollar gains versus yen

Gold held on to its losses early on Wednesday after falling 0.6 percent the session before, with the dollar advancing versus the yen. Spot gold was down 0.1 percent at $1,316.90 an ounce by 0105 GMT.

By: | Published: September 14, 2016 9:20 AM
Gold held on to its losses early on Wednesday after falling 0.6 percent the session before, with the dollar advancing versus the yen. Spot gold was down 0.1 percent at ,316.90 an ounce by 0105 GMT.(Reuters) Gold held on to its losses early on Wednesday after falling 0.6 percent the session before, with the dollar advancing versus the yen. Spot gold was down 0.1 percent at ,316.90 an ounce by 0105 GMT.(Reuters)

Gold held on to its losses early on Wednesday after falling 0.6 percent the session before, with the dollar advancing versus the yen. Spot gold was down 0.1 percent at $1,316.90 an ounce by 0105 GMT.

US gold futures eased 0.1 percent to $1,321.90 an ounce. The Bank of Japan plans to make its controversial negative interest rate policy the centrepiece of future monetary easing, promising to weigh further cuts as expansions to asset buying near their limits, the Nikkei newspaper reported on Wednesday.

The dollar stood atop sizeable gains versus the yen early on Wednesday. The greenback was up 0.3 percent at 102.82 yen , after touching a one-week high of 102.87. The 10-year U.S. Treasury yield rose to a three-month high of 1.752 percent, having risen more than 20 basis points from a week ago. US household income posted a record increase in 2015 after years of stagnation, suggesting the recovery from the Great Recession was finally lifting ordinary citizens who had been largely left behind.

China’s factory output and retail sales grew faster than expected in August as a strong housing market and a government infrastructure spending spree underpinned growth in the world’s second-largest economy. Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.47 percent to 935.49 tonnes on Tuesday.

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