Gold prices steady
AFP
By our correspondents
August 07, 2015
London
Gold was flat on Thursday as the dollar steadied and investors awaited U.S. employment data that could bolster prospects of the Federal Reserve raising interest rates as early as next month.
US non-farm payrolls are due on Friday and economists polled by Reuters predict employment in July to increase at the same pace as June's 223,000 rise.
Spot gold was unchanged at $1,084.10 an ounce by 0943 GMT. The metal breached important technical support at $1,100 after a deep rout in late July pushed it as low as $1,077, its weakest since February 2010.
US gold for December delivery was down 0.1 percent at $1,084.20 an ounce. "The only supporting factor for gold is the fact that there is a big short in the market but it needs some piece of news to give gold a $20 boost to above $1,105 to see any meaningful short covering," Saxo Bank senior manager Ole Hansen said.
Gold was flat on Thursday as the dollar steadied and investors awaited U.S. employment data that could bolster prospects of the Federal Reserve raising interest rates as early as next month.
US non-farm payrolls are due on Friday and economists polled by Reuters predict employment in July to increase at the same pace as June's 223,000 rise.
Spot gold was unchanged at $1,084.10 an ounce by 0943 GMT. The metal breached important technical support at $1,100 after a deep rout in late July pushed it as low as $1,077, its weakest since February 2010.
US gold for December delivery was down 0.1 percent at $1,084.20 an ounce. "The only supporting factor for gold is the fact that there is a big short in the market but it needs some piece of news to give gold a $20 boost to above $1,105 to see any meaningful short covering," Saxo Bank senior manager Ole Hansen said.
-
Funeral Home Owner Sentenced To 40 Years For Selling Corpses, Faking Ashes -
Why Is Thor Portrayed Differently In Marvel Movies? -
Dutch Seismologist Hints At 'surprise’ Quake In Coming Days -
Australia’s Liberal-National Coalition Reunites After Brief Split Over Hate Laws -
DC Director Gives Hopeful Message As Questions Raised Over 'Blue Beetle's Future -
King Charles New Plans For Andrew In Norfolk Exposed -
What You Need To Know About Ischemic Stroke -
Shocking Reason Behind Type 2 Diabetes Revealed By Scientists -
SpaceX Cleared For NASA Crew-12 Launch After Falcon 9 Review -
Meghan Markle Gives Old Hollywood Vibes In New Photos At Glitzy Event -
Simple 'finger Test' Unveils Lung Cancer Diagnosis -
Groundbreaking Treatment For Sepsis Emerges In New Study -
Roblox Blocked In Egypt Sparks Debate Over Child Safety And Digital Access -
Savannah Guthrie Addresses Ransom Demands Made By Her Mother Nancy's Kidnappers -
OpenAI Reportedly Working On AI-powered Earbuds As First Hardware Product -
Andrew, Sarah Ferguson Refuse King Charles Request: 'Raising Eyebrows Inside Palace'