Gold up as dollar inches down, investors await US data

04.08.2021 - Evdokimov Roman
Gold up as dollar inches down, investors await US data

Gold went up in Asia on Wednesday, boosted by a weakening dollar. Meanwhile, investors continue to wait for the release of the latest US jobs data.

Gold futures crept up 0.09% to $1,815.80 by 12:49 AM ET (4:49 AM GMT). The dollar, typically moving inversely to gold, dipped on Wednesday and approached recent lows.

Going over to the data front, investors are anticipating the ADP non-farm employment change for July, as well as the Markit Composite Manufacturing Purchasing Managers’ Index (PMI), the services PMI, and the Institute of Supply Management (ISM) Non-Manufacturing PMI, all due later in the day.

The data would be given ahead of the latest US jobs report due on Friday.

Meanwhile, holdings in SPDR Gold Trust dropped 0.2% to 1,027.97 tons on Tuesday.

In news about other precious metals, silver climbed up 0.4% and platinum edged up 0.1%. Palladium also gained 0.2% to $2,652.99 per ounce, following a one-week high of $2,707.28 during the last session.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.net or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?