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Gold under pressure
Gold is currently under pressure at $1,125.00 (+0.02%) amid signs that the Federal Reserve can still raise rates in 2015. Several Federal Reserve's officials said on Monday that they still expect a rate hike by the end of the current year. Higher rate would harm non-interest-bearing bullion. Investors are also waiting for Fed Chair Yellen's speech scheduled for Thursday.
A preliminary report from Markit Economics and Caixin Media showed this morning that China's manufacturing sector had fallen to a six-and-a-half-year low of 47.0 in September. Economists had expected a 47.5 reading after 47.3 reported previously. This report weighed on stocks, but failed to support gold, which is a traditional safe-haven asset at times of crisis and economic uncertainties.
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