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Gold eases ahead of US jobs data; eyes 6th weekly gain

According to traders, strong jobs data will trigger some short term pain for gold

Gold Prices

Reuters  |  Bengaluru 

Gold edged down on Friday as investors turned cautious ahead of US jobs data later in the day, but the precious metal remained on course for a sixth consecutive weekly gain. Spot gold was trading down 0.3% at $1,356.41 an ounce by 0656 GMT. Bullion has risen about 1% so far this week. US gold fell 0.3% to $1,358.10 an ounce. "We have seen some slight correction in gold prices from yesterday. Prices have come up quite a lot. It was long time since many of them decided to take profits," said Brian Lan, managing director at Singapore-based gold dealer GoldSilver ...

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First Published: Fri, July 08 2016. 12:42 IST