World gold reverses losses on equity, econ concerns stay

MTECHTIPS

World gold reverses losses on equity, econ concerns stay

Gold tracked equities higher on Tuesday, but was heading for its biggest monthly loss since May, after disappointing corporate earnings prompted investors to sell holdings to cover losses in other markets hurt by global economic uncertainty.The focus this week will be on Friday's US non-farm payrolls report, which could shed light on the nascent labour market recovery and influence an increasingly tight election between Democratic President Barack Obama and Republican challenger Mitt Romney.
Gold hit a low around $1,704 an ounce and was at $1,711.70 by 0713 GMT, up $2.46. It hit an 11-month high above $1,795 in early October after the US Federal Reserve announced its third round of aggressive economic stimulus in September.

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