Gold Holds Gains Ahead of Suspected Weak Jobs Data

Bloomberg reported that gold today held steady, after its biggest advance in almost two weeks, ahead of reports that could show the US economy added fewer workers.

As quoted in the market news:

Bullion for immediate delivery was at $1,318.78 an ounce at 8:08 a.m. in Singapore from $1,317.93 yesterday, when prices climbed 0.5 percent, the most since Oct. 24. Gold for December delivery was little changed at $1,317.20 on the Comex.

“We believe the market will focus on upcoming economic releases, particularly U.S. monthly non-farm payroll number and unemployment releases,” James Steel, an analyst at HSBC Securities (USA) Inc., wrote in a note.

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