Gold Futures Rise Ahead of U.S. Economic Data
Gold futures were rising as investors awaited crucial U.S. economic data.
Key Points:
- Futures were up 0.2% at $3,354.90 a troy ounce.
- The precious metal has ticked higher ahead of U.S. nonfarm payroll data due later Thursday.
- The data will be closely analyzed for fresh signals on the economic outlook and potential interest-rate cuts from the Fed.
Analysis:
Lower interest rates typically benefit non-interest bearing bullion. Gold has steadily recouped losses incurred in June on persistent market uncertainty, fueled by concerns over the fiscal deficit.
