Gold near multiyear low

Singapore
Gold hovered close to its lowest in nearly six years on Thursday, as the dollar held at multi-month highs and US economic data reinforced market expectations of an interest rate hike this year.
Data on Wednesday showed that US manufacturing output rose well above economists' expectations in October, while business spending plans surged. New applications for unemployment benefits dropped last week. Other data showed only a small increase in US consumer spending in October, but did little to alter views that the economy was strong enough for the Federal Reserve to raise rates at its next policy meeting in December. Spot gold rose slightly to $1,072.70 an ounce by 0634 GMT, after dropping 0.4 percent on Wednesday.
The metal dipped to $1,064.95 last week, the lowest since February 2010. The dollar index, a measure of strength against a basket of major currencies, held near 100.17, an eight-month high reached in the previous session, hurting gold.