Gold unlikely to regain poise in near-term

Singapore

GOLD fell further from grace in the wake of Friday's stronger-than-expected US jobs report, which boosted expectations of a mid-year US interest rate hike.

After breaking past two price support levels, the yellow metal rebounded slightly on Monday. At around 9:35pm Singapore time on Tuesday, gold for April delivery was trading at a three-month low of about US$1,167 on the Comex, above its November 2014 low of US$1,144, but down about 13 per cent year-on-year.