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\t\t<\/span><\/p>\n <\/span><\/p>\n \n \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":" * Gold heading for fourth straight weekly loss * Bullion falls below key technical support, 100-dma * Oct U.S. non-farm payrolls data beats expectations By Frank Tang NEW YORK, Nov 2 (Reuters) – Gold slid 2 percent in heavy trade on Friday, breaking below $1,690 an ounce for the first time in about two months […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-16100","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/16100","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=16100"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/16100\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=16100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=16100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=16100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}* Gold heading for fourth straight weekly loss\n * Bullion falls below key technical support, 100-dma\n * Oct U.S. non-farm payrolls data beats expectations\n\n\n By Frank Tang\n NEW YORK, Nov 2 (Reuters) - Gold slid 2 percent in heavy\ntrade on Friday, breaking below $1,690 an ounce for the first\ntime in about two months as an encouraging U.S. nonfarm payrolls\nreport lowered expectations for economic stimulus provided by\nglobal central banks.\n Bullion hit a two-month low on Friday and is down almost 2\npercent this week for its fourth consecutive weekly decline. The\nmetal has now erased all its gains after the U.S. Federal\nReserve announced its latest bond-buybacks to boost the job\nmarket in September. \n Gold's pullback brought its price near major technical\nsupport near its 100- and 200-day moving averages, after data\nshowed U.S. employers added 171,000 jobs in October, a hopeful\nsign for a lackluster economy that has been a drag on President\nBarack Obama's re-election chances. \n \"Better-than-expected numbers reduced the risk demand for\ngold, and a drop below $1,700 an ounce triggered sell-stops and\nmomentum selling,\" said James Steel, metals analyst at HSBC.\n \"There are also long liquidation ahead of elections\ntriggered by the job number,\" Steel said.\n Spot gold fell 2 percent to $1,680.04 by 12:31 p.m.\nEDT (1631 GMT), having touched an eight-week low of $1,679.04. \n U.S. COMEX gold futures for December delivery dropped\n $34.30 an ounce to $1,681.10, as trading volume on track to\nfinish sharply above its 250-day average, preliminary Reuters\ndata showed.\n On charts, Friday's sharp pullback sent prices below a key\nFibonacci retracement support and near its 100-day moving\naverage, a level it has held since mid-August.\n \"Gold has weakened markedly after slicing below its 50 DMA\nline last week which was support and has now become resistance,\"\nsaid Adam Sarhan, CEO of Sarhan Capital.\n Silver, which tends to be more volatile than gold,\ntumbled 3.5 percent to $31.09 an ounce.\n\n EASING EXPECTATIONS TRIMMED\n In the longer term, a positive reading on jobs and Friday's\nstrong U.S. factory orders data could weigh on gold if it trims\nexpectations for monetary easing. \n The U.S. authorities have explicitly tied the extent of\nmonetary stimulus measures - news of which sent gold above\n$1,795 an ounce in October - to the health of the jobs market.\n However, while the data was good, analysts say it is far\nfrom a level that would yet stoke fears of an imminent reversal\nof the Fed's commitment to easing.\n Despite Friday's broad sell-off, platinum and palladium were\nboth heading for their first weekly gains after three weeks of\nstraight falls.\n Platinum dropped 1.3 percent to $1,544.24 and\npalladium fell 1.9 percent to $599.50. \n\n Prices at 12:31 p.m. EDT (1631 GMT) \n \n LAST NET PCT YTD\n CHG CHG CHG\n US gold 1681.10 -34.30 -2.0% 7.3%\n US silver 31.135 -1.113 -3.5% 11.5%\n US platinum 1549.00 -24.20 -1.5% 10.7%\n US palladium 599.95 -12.50 -2.0% -8.6%\n \n Gold 1680.04 -34.05 -2.0% 7.4%\n Silver 31.09 -1.14 -3.5% 12.3%\n Platinum 1544.24 -20.26 -1.3% 10.9%\n Palladium 599.50 -11.50 -1.9% -8.1%\n \n Gold Fix 1685.00 -23.25 -1.4% 7.0%\n Silver Fix 31.92 -74.00 -2.3% 13.3%\n Platinum Fix 1552.00 3.00 0.2% 12.4%\n Palladium Fix 608.00 0.00 0.0% -4.4%<\/pre>\n