FUNDAMENTALS
* Spot gold was little changed at $1,064.66 an ounce by 0036 GMT, after gaining 0.5 percent on Monday.
* But the metal wasn't far from $1,052.46, its lowest since Feb. 2010 hit last week. Bullion also posted its biggest monthly drop in 2-1/2 years in November with a 7-percent decline.
* Investors have been positioning for a U.S. rate hike, expected this month at the Federal Reserve's Dec. 15-16 policy meet, by selling non-interest-paying gold.
* The dollar, on the other hand, was on the cusp of reaching its highest in nearly 13 years against a basket of currencies on Tuesday, piling more pressure on greenback-denominated gold.
* A U.S. payrolls report on Friday will be closely watched for clues about the strength of the economy and its impact on the Fed's monetary policy. A strong number, after a surge in job growth in October, could cement expectations that the U.S. central bank will deliver its first hike in almost a decade.
* Hedge funds and money managers raised their net short position in COMEX gold contracts to the biggest on record in the week to Nov. 24, U.S. Commodity Futures Trading Commission data showed on Monday.
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DATA AHEAD (GMT)
0100 China NBS Non-mfg PMI Nov
0100 China NBS Manufacturing PMI Nov
0145 China Caixin Mfg PMI Final Nov
1445 U.S. Markit Mfg PMI Nov
1500 U.S. Construction spending Oct
1500 U.S. ISM Manufacturing PMI Nov
1830 U.S. Total vehicle sales
* Investors have been positioning for a U.S. rate hike, expected this month at the Federal Reserve's Dec. 15-16 policy meet, by selling non-interest-paying gold.
* The dollar, on the other hand, was on the cusp of reaching its highest in nearly 13 years against a basket of currencies on Tuesday, piling more pressure on greenback-denominated gold.
* A U.S. payrolls report on Friday will be closely watched for clues about the strength of the economy and its impact on the Fed's monetary policy. A strong number, after a surge in job growth in October, could cement expectations that the U.S. central bank will deliver its first hike in almost a decade.
* Hedge funds and money managers raised their net short position in COMEX gold contracts to the biggest on record in the week to Nov. 24, U.S. Commodity Futures Trading Commission data showed on Monday.
Visit Us http://www.marketmagnify.com/bullion-tips.php
DATA AHEAD (GMT)
0100 China NBS Non-mfg PMI Nov
0100 China NBS Manufacturing PMI Nov
0145 China Caixin Mfg PMI Final Nov
1445 U.S. Markit Mfg PMI Nov
1500 U.S. Construction spending Oct
1500 U.S. ISM Manufacturing PMI Nov
1830 U.S. Total vehicle sales
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