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Gold Flat Ahead of Payroll Data, On Track for Seventh Week of Gains


Friday, 5 July 2019 16:00 WIB

GOLDEMAS


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Gold prices were flat on Friday in Asia but are on track to log a seventh straight week of gains.

Gold futures for August delivery on the Comex division of the New York Mercantile Exchange were unchanged at $1,420.90 a troy ounce by 12:09 AM ET (04:09 GMT).

All eyes are now on U.S. non-farm payroll, which are expected to have jumped by 160,000 in June compared with 75,000 in May. The data is due later in the day.

On Wednesday, a report from ADP (NASDAQ:ADP) and Moody’s Analytics showed private payrolls rising by 102,000 in June.

Weaker-than-expected figure from the jobs report could raise expectations that the U.S. Federal Reserve would cut interest rates at its upcoming monetary policy meeting on July 30 and 31.

Source : Investing.com


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