Gold Slips On Firm Dollar Ahead Of US Jobs Data

Gold futures in India were seen trading lower tracking global cues ahead of US jobs data which is due tomorrow.

Check gold rates in India

International Gold slipped on Thursday on back of strong dollar. Analysts said that the drop in gold price was due to surge in equities and dollar on reports of positive US jobs data.

As per reports, US services sector activity rose to an 11-month high in September. International gold was seen trading at $1,265 an ounce.

Investors are looking for more cues from jobs data which will hint at the interest rate hike which will decide the movement of the yellow metal.

At the Multi Commodity Exchange, gold for delivery in December eased to Rs 29,825 per 10 gram, lower by Rs 91. The metal for delivery in far-month February was trading lower at Rs 29,933 lower by Rs 108.

Goodreturns.in