Gold fell for the first time in four days as Asian stocks extended a global rout on concern over China’s slowdown and its impact on the world economy.
Bullion for immediate delivery declined 0.3 percent to $1,136.84 an ounce at 8:31 a.m. in Singapore, according to Bloomberg generic pricing. The metal climbed 1.4 percent in the previous three days and jumped 3.6 percent in August, the biggest monthly gain since January.
Data showing Chinese manufacturing at a three-year low reignited a global share slump on Tuesday and the selloff continued in Asia. The Federal Reserve is scrutinizing data to determine the timing and pace of its first boost to borrowing costs since 2006. Attention will focus on the government jobs report Friday as the last major data point before the Fed meets Sept. 16-17.
Gold futures for December lost 0.3 percent to $1,136.10 on the Comex in New York. Silver for immediate delivery fell 0.3 percent to $14.5775 an ounce. Platinum was little changed at $1,002.14 an ounce, while palladium rose 0.2 percent to $573.35 an ounce after a 4.7 percent slump on Tuesday.