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Gold cuts losses

Gold cuts losses

LONDON: Gold steadied on Wednesday after soft private sector jobs data stoked expectations that Friday’s US payrolls report will fall short of forecasts, dampening the prospect of a near-term hike in US interest rates and weighing on the dollar.

Spot gold was at $1,285.51 an ounce at 1330 GMT, little changed from $1,285.60 late on Tuesday.

It had fallen to $1,274.79 an ounce earlier in the day after a push to 15-month highs above $1,300 on Monday ran out of steam.

Silver was down 0.3pc at $17.36 an ounce, while platinum was up 0.3pc at $1,063.60 and palladium was down 0.4pc at $603.40.

Courtesy : Dawn News



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