Gold, which reached a 12-month peak at the end of last week amid rising geopolitical tension and several extreme weather events, continued its recent retreat on Thursday.
The metal was down 0.2 per cent at $1,320 an ounce, its lowest point since August 31.
Brent crude, the international benchmark, came off gains in the US on Wednesday when it climbed 1.6 per cent to $55.16, its highest since April. Brent was down 0.2 per cent at $55.05 a barrel. West Texas Intermediate, the main US contract, was down 0.1 per cent at $49.25.
Focus will turn to the release of China’s fixed asset investment and industrial production data which could weigh on industrial metals prices. Thermal coal was up 0.6 per cent on Wednesday, breaching the $100 a tonne mark.
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