Meanwhile, U.S. Federal Reserve policy-setters acknowledged in a statement Tuesday that economic conditions remainsoft and they intend to leave interest rates at record low levels until mid-2013, which analysts have described as supportive for gold.
Still, the below-50 readings in the HSBC PMI suggest that activity and demand remainsoft and that a strong rebound in the fourth appears unlikely, Barclays Capital analysts led by Jian Chang in Hong Kong warned on Wednesday.