LONDON, Sept 1 (Reuters) - Gold priced in sterling hit new
two-month highs in London on Wednesday as the pound came under
broad pressure after British manufacturing data missed forecasts
and reinvigorated concern about the UK economy.
Sterling-priced gold <XAUGBP=R> hit a session peak of 815.33
pounds an ounce, its highest since early July, and was up about
0.4 percent on the day at 815.07 pounds at 0850 GMT. Sterling
hit a three-week low against the euro <EURGBP=D4> and pared
gains against the dollar <GBP=>.
Gold priced in U.S. dollars <XAU=> also held around
two-month highs above $1,250.00 an ounce, benefitting from a
desire among investors for an alternative asset as the belief
takes hold that the U.S. economy may be at risk of slipping back
into recession.
The Markit/Chartered Institute of Purchasing and Supply
Manufacturing PMI fell to 54.3 in August -- below all forecasts
in a Reuters poll -- from a downwardly revised 56.9 in July.
That was the lowest level since November last year although it
was still above the 50 mark which separates growth from
contraction in activity. [ID:nSLAVJE6BA]
(Reporting by Jan Harvey and Amanda Cooper)