Gold near three-month low

Singapore
Gold ticked up after an eight-day losing streak on Monday, but languished near its lowest in three months as surging US nonfarm payrolls boosted expectations of a December rate hike in the United States.
Employers outside the farming sector added 271,000 jobs in October, the most in 10 months, and the jobless rate fell to a 7-1/2-year low of 5 percent, data on Friday showed.
Economists had forecast nonfarm payrolls increasing 180,000 and the unemployment rate remaining at 5.1 percent. As investors increased bets that the first rate increase in nearly a decade will come next month, they sent non-interest-paying gold tumbling to $1,084.90 an ounce on Friday, the lowest since August.
Spot gold rose 0.5 percent to $1,093.51 an ounce by 0639 GMT on short covering.
"Further downwards pressure is expected on the precious complex in the lead up to the December FOMC meeting," MKS Group trader Sam Laughlin said, referring to the Fed's Federal Open Market Committee.