 "Gold prices edge lower on firmer dollar as market eye US jobs data")
(Reuters) -Gold prices edged lower on Thursday, as the dollar hovered near a three-month peak, with investors looking ahead to a key U.S. jobs report due later this week for clues on what it might mean for monetary policy.
FUNDAMENTALS
* Spot gold eased 0.1% to $1,769.11 per ounce, as of 0117 GMT. U.S. gold futures fell 0.2% to $1,768.10.
* The dollar held firm near a three-month high scaled in the previous session. A stronger dollar makes greenback-priced metals more expensive for holders of other currencies. [USD/]
* U.S. private payrolls increased more than expected in June as companies rushed to boost production and services amid a rapidly reopening economy.
* Federal Reserve Bank of Dallas President Robert Kaplan said Wednesday he would like the Fed to start reducing its support for the economy before the end of the year, in part to make an abrupt policy tightening less likely later on.
Also Read
* A Fed rate hike will increase the opportunity cost of holding bullion and dull its appeal.
* Investors are now awaiting the U.S. non-farm payrolls report on Friday.
* India has slashed the base import price of palm oil, soyoil, gold and silver, the government said in a statement late on Wednesday, as prices fell in the overseas market.
* Silver rose 0.1% to $26.14 per ounce, palladium fell 0.5% at $2,764.68 and platinum shed 0.6% at $1,065.74.
DATA/EVENTS (GMT)
0750 France Markit Mfg PMI June
0755 Germany Markit/BME Mfg PMI June
0800 EU Markit Mfg Final PMI June
0830 UK Markit/CIPS Mfg PMI Final June
0900 EU Unemployment Rate May
1230 US Initial Jobless Clm Weekly
1345 US Markit Mfg PMI Final June
1400 US ISM Manufacturing PMI June
(Reporting by Arundhati Sarkar in Bengaluru; Editing by Amy Caren Daniel)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)