SINGAPORE, Nov 15 (Reuters) - Spot gold gained half a percent on Monday, after falling three percent in the previous session on talk of an imminent interest rate hike by China that triggered a broad commodities decline.
FUNDAMENTALS
* Spot gold <XAU=> rose by 0.5 percent to $1,373.15 an ounce by 0012 GMT, after posting its sharpest daily decline in four months on Friday.
* China stocks fell more than five percent on Friday for their biggest percentage loss in over a year, while global stocks, bonds and commodities also on the rate hike fear. [
] [ ]* U.S. gold futures <GCZ0> gained 0.5 percent to $1,373.2.
* The dollar edged lower against a basket of currencies <.DXY>, and the confusion over aid for Ireland and concerns about a prospective tightening in China kept the euro and higher-yielding currencies on the defensive. [
]* Ireland did not rule out the possibility that it may have to turn to Europe for help in dealing with its debt crisis on Sunday, but said that no application had been made for assistance yet. [
]* Holdings in the world's largest gold-backed exchange-backed fund, SPDR Gold Trust <GLD>, remained unchanged at 1,290.855 tonnes. [
]* Vietnam has abolished the import duty on gold in another effort to cool domestic prices of the metal after it has granted gold import quotas earlier in the week, a state-run newspaper reported. [
]* Spot silver <XAG=> gained 0.6 percent to $26.14, after falling to a one-week low of $25.80 on Friday.
MARKET NEWS
* Wall Street ended a five-week winning steak on Friday as the threat of rising interest rates in China prompted investors to book profits and reassess bullish positions in equities. [
]DATA/EVENTS
0430 Japan Industrial output rev Sep <JPIP4=ECI>
1000 EZ Eurostat trade, EUR Sep <EUTBAL=ECI>
1330 U.S. Retail sales mm Oct <USRSL=ECI>
1500 U.S. Business Inventories mm Sep <USBINV=ECI>
:: China FDI (ytd) Oct <CNFDI=ECI>
:: EZ Week-long Euro Finance week begins in Frankfurt
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