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Gold Prices Edge Higher as Market Awaits Labor-Market Update


Thursday, 2 July 2020 19:04 WIB

GOLDEMAS


Gold futures inched higher Thursday ahead of employment data in the U.S. that could influence trading in the precious commodity, a day after hope for a vaccine and a rally in stocks eroded appetite for the haven metal.

Economists polled by MarketWatch estimate that 3.7 million jobs were created in June, with some estimates ranging as high as 8 million. Meanwhile, a weekly report on individuals seeking unemployment insurance weekly is estimated to show that 1.4 million people sought such insurance.

A surprise in those numbers, indicating economic improvement, could further deflate bullion's steady rise to its highest level to 2011.

August gold picked up $4.40, or 0.3%, at $1,784.30 an ounce, following a 1.1% decline on Wednesday. Meanwhile, September silver shed added 4 cents, or 0.2%, at $18.26 an ounce after gold's sister metal fell 2.3% in the prior session.

Source : Marketwatch


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