Gold prices near three-month low

Singapore
Gold languished near a three-month low on Thursday as investors positioned themselves for a US rate hike this year, although they still awaited more cues from Federal Reserve officials speaking later in the day.
A strong US nonfarm payrolls report last week bolstered expectations that the Fed would hike rates for the first time in nearly a decade at its next policy meet in December.
Higher rates would dent demand for non-interest-paying gold while boosting the dollar.
Spot gold edged up 0.2 percent to $1,087.80 an ounce by 0644 GMT as the dollar eased slightly from a seven-month high. The metal had dropped to $1,083.65 in the previous session, the lowest since Aug. 7.
"The $1,084-85 area is now building as a strong short-term support level with decent stop orders developing below," said MKS Group trader James Gardiner.