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03.11.2015 06:44 Gold near a four-week low

Gold slightly climbed to $1,136.90 ( 0.09%), but stayed near its four-week low. Expectations that the Federal Reserve can still raise interest rates till the end of the year continue weighing on this non-interest-paying asset. Higher rates would decrease demand for gold further.

On Monday the Institute for Supply Management reported that activity in U.S. manufacturing sector was almost unchanged in October, but slightly exceeded economists' expectations. The Manufacturing PMI posted 50.1 in October vs 50.2 in September and 50 expected. The new orders sub-index rose giving hope for better results in the future.

Assets in SPDR Gold Trust, world's largest gold-backed exchange-traded fund, fell 0.43% to 689.28 tonnes on Monday, the lowest level in three weeks.



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