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· Spot gold fell 0.6% to $1,793.20 per ounce by 1:47 p.m. EDT (1747 GMT), while U.S. gold futures settled down 0.7% at $1,794.8.

· Gold retreated below the key $1,800 level on Wednesday, hit by a bout of technical selling after it failed to hold recent gains as investors looked past a subdued dollar and sought clarity on the U.S. Federal Reserve’s tapering strategy.

But prices were still relatively range-bound, reflecting uncertainty over the path the Fed may adopt at its meeting next week after softer U.S. inflation data on Tuesday.

· SPDR GOLD HOLDINGS:

HEAVY SELL MORE THAN 170 TONNES IN 2021

SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings fell 1.75 Tonnes to 998.46 tons on Wednesday from 1,000.21 tons on previous session.

Overall, the holdings of SPDR decline 29.74 tonnes in this month, but this year net sell 170.28 tonnes.

· A stronger-than-expected N.Y. Fed’s manufacturing report for September earlier in the day fell “into the camp of the monetary policy hawks, which put a little pressure on gold,” said Jim Wyckoff, senior analyst at Kitco Metals.

He added that improved risk sentiment was weighing on bullion.

· But there weren’t any particular headlines to prompt gold’s pullback and this was rather due to its “technical inability to trade up through the 200-day moving average on Tuesday,” said David Meger, director of metals trading at High Ridge Futures.

Right now, “any good news is bad news for gold,” and if more positive economic data comes out, the Fed would be more willing to begin reducing asset purchases, and gold’s likely to move sideways heading into the FOMC meeting, Meger said.

· Bullion investors also largely overlooked a subdued dollar.

· “However, risk to the downside for gold is also limited since the slowdown in inflation thereby reduces the pace with which tapering can be carried out,” said Saxo Bank analyst Ole Hansen.

· Platinum hit a more than nine-month low of $925.50 per ounce and was last down 0.1% at $938.74.

· Palladium rose 1.5% to $2,008.07, stabilizing after sliding to an over one-year low on Tuesday. A chip shortage driven slowdown in auto production could hurt demand, analysts at UBS said.

· Silver shed 0.2% to $23.78.

· TREASURIES-U.S. yields seen in tight range ahead of next week's Fed meeting

The yield on 10-year Treasury notes was up 3.5 basis points to 1.314% after earlier touching a three-week low of 1.26%.

· US: Empire State Manufacturing Index improves to 34.3 in September vs. 18 expected

The headline General Business Conditions Index of the Federal Reserve Bank of New York's Empire State Manufacturing Survey rose to 34.3 in September from 18.3 in August. This reading beat the market expectation of 18 by a wide margin.

· U.S. manufacturing output slows sharply in August

Production at U.S. factories slowed more than expected in August amid disruptions from Hurricane Ida and lingering shortages of raw materials and labor as the COVID-19 pandemic drags on.

Manufacturing output increased 0.2% last month, the Federal Reserve said on Wednesday. Data for July was revised to show production surging 1.6% instead of 1.4% as previously reported.

· U.S. import prices unexpectedly fall in August

U.S. import prices fell for the first time in 10 months in August, further evidence that inflation had probably peaked.

Import prices dropped 0.3% last month after increasing 0.4% in July, the Labor Department said on Wednesday. The first decrease since October 2020 lowered the year-on-year increase to 9.0% from 10.3% in July. Economists polled by Reuters had forecast import prices, which exclude tariffs, climbing 0.3%

· Markets may be overestimating Delta's impact on growth - ECB's Schnabel

Real interest rates are puzzlingly low around the world, European Central Bank board member Isabel Schnabel said on Wednesday, arguing that investors may be overestimating the impact of the Delta variant of the coronavirus on the economy.

With governments and central banks unleashing record stimulus to revive growth after the pandemic, real rates on both sides of the Atlantic would be expected to rise, especially since stocks are soaring, Schnabel, the head of the ECB’s market operations, said.

· Kuroda: If necessary, BOJ will further relax monetary policy such as by reducing interest rates

- BOJ's Kuroda: Japan inflation to reach 2% goal, but not before 2023

- BOJ's Kuroda says to include green bonds in corporate bond buying program

- BOJ's Kuroda upbeat on Japan Inc despite supply disruptions

· House Democrats’ capital gains tax proposal is better for the super rich than Biden plan

The uber rich may be cheering House Democrats’ proposed tax reforms on investment income relative to the Biden administration’s earlier plan.

The White House called for a 39.6% top federal tax rate on long-term capital gains and dividends — nearly double the current 20%.

· U.S., Australia and UK unveil new security partnership as China expands its military and influence

· Australia to get U.S. nuclear submarine technology as China looms large

· China sees 'Cold War mentality' in U.S., British, Australia pact

· N.Korea says it tested new railway-borne missile system to strike 'threatening forces'

The missiles fired by North Korea on Wednesday were a test of a new "railway-borne missile system" designed as a potential counter-strike to any forces that threaten the country, state news agency KCNA reported on Thursday.

The missiles flew 800 km (497 miles) before striking a target in the sea off North Korea's east coast, KCNA said.

· Japan condemns North Korea’s ballistic missile launch as ‘outrageous’ and a ‘threat’ to the region

· Germany worried about Mali plan for Russian mercenaries

Germany joined France on Wednesday in expressing concern about an agreement between Mali's military rulers and a Russian security company that would bring Russian mercenaries into the African country.

· COVID-19 UPDATES:

· Moderna says COVID-19 vaccine protection wanes, makes case for booster

· Pfizer says Israel data shows third Covid shot restores protection from infection to 95% as it makes case to FDA for boosters