Gold falls on favourable U.S. manufacturing data suggesting stimulus scale back

Gold declined on Monday falling for fifth day and was set to complete the largest drop in three months after a government report showed that manufacturing activity in the U.S. advanced to the strongest level in two years signaling no further stimulus by Fed. Bullion for delivery in November slipped 0.3% to $1,312.34 an ounce and was traded at $1,313.07 by 11:22 a.m. Singapore time.