GOLD MARKET NEWS

Gold turned lower on Thursday, dropping for the fourth straight session on pressure from the firm U.S. dollar ahead of Friday's U.S. payrolls report, which will give clues about whether the Federal Reserve will soon raise interest rates.

 

The U.S. dollar rose against a basket of major currencies as traders closed out profitable bets against it ahead of the payrolls data, while U.S. and European stock markets also rose.Contact this no:- 9827808090

 

Gold prices have fallen since reaching a 15-month high of $1,303.60 on Monday when the dollar slumped against the yen after the Bank of Japan stood pat on policy - before the U.S. currency recovered.

 

 Gold is sensitive to interest rates and returns on other assets. Investor interest in gold remains robust. Assets in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 0.07 percent to 825.54 tonnes on Wednesday, their highest in more than two years.  

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