Spot gold is on track for a second weekly fall as platinum is set for its biggest weekly gain since January 2017
Gold edged higher on Thursday, after touching a near 10-week low earlier in the session as the dollar firmed on US jobs data, while investors awaited clarity on US-China trade talks.
“We bounced off a support level around the 100-day moving average, given the backdrop of weakening data for the most part and central banks on an easing path, markets were suddenly reluctant to keep selling gold below the $1,280 region,” said Ryan McKay, commodity strategist at TD Securities.The dollar was up 0.2% against a basket of currencies as US jobless claims hit a 49-year low last week, pointing to sustained labour market strength despite slowing economic growth.
Analysts now await the closely watched US non-farm payrolls data on Friday for further clues on the strength of the US economy. Holdings in the world’s largest gold-backed exchange-traded fund , SPDR Gold Trust, fell for a third straight session on Wednesday. Holdings were at their lowest since December 17 at 24.57-million ounces.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold heads for a 10-week low ahead of US nonfarm payrollsThe metal loses ground as the dollar gains against the yen amid developments in the US-China trade dispute
Read more »
10 reasons why you’re not losing weightWater is a natural appetite suppressant so try drinking a glass before each meal to help curb overeating.
Read more »
SA yields fall to 10-month low after Moody reprieveDue to lack of change by agency country retains its position in Citigroup’s World Government Bond Index
Read more »
GroundUp: Family of 10 sleeps rough for four nights after farm evictionEthical trade association to review Windmeul Kelder wine farm. By Barbara Maregele and Velani Ludidi for GROUNDUP
Read more »
ANC MP Cedric Frolick in a 'corrupt relationship' with Bosasa for 10 years: Angelo AgrizziSenior ANC MP Cedric Frolick was allegedly used by Bosasa, at a R40,000 monthly premium, to facilitate meetings between the company and various politicians.
Read more »
ANC MP Cedric Frolick in a 'corrupt relationship' with Bosasa for 10 years: Angelo AgrizziSenior ANC MP Cedric Frolick was allegedly used by Bosasa‚ at a R40‚000 monthly premium‚ to facilitate meetings between the company and various politicians.
Read more »
German police arrest 10 people suspected of plotting major attacks | IOL NewsGerman police arrested 10 people in pre-dawn raids on suspicion they were planning major attacks with stockpiled weapons and explosives.
Read more »
Cheeky Messi magic keeps Barcelona 10 points clear in SpainMessi has now netted eight times in his last four games for Barca and leads the way in the La Liga scoring charts with 31 goals, 13 ahead of teammate Luis Suarez.
Read more »
Oellermann slams Hawks, SIU for taking 10 years to act on damning Bosasa report | IOL NewsThe former lead investigator in the SIU probe into Bosasa has told the Zondo commission that it was “incomprehensible” why it took 10 years for authorities to start making arrests.
Read more »
Digital transformation could unlock R5 trillion in 10 yearsDigital transformation has the potential to unlock more than R5 trillion worth of value in the next 10 years for South Africa if key initiatives across government and the price sector are implemented, by Les2020ic
Read more »