International gold lower ahead of US jobs data

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International gold lower ahead of US jobs data
International gold edged lower on Friday ahead of US jobs data which is due later today. The dollar strengthened against major currencies, which also weighed on sentiments.

Spot gold was seen trading at $1,708 an ounce. Gold is witnessing downtrend ahead of US payrolls data which is expected to show improvement which inturn could affect the gold sentiment.

In India, gold futures fell tracking overseas trend. Gold for December delivery on the MCX was trading at Rs 30,845 per 10 grams, lower by 0.35% at 2.20 pm IST.

Gold demand is set to pick up as lower prices may attract investors/buyers in this festive season. Delhi spot gold of 99.9% and 99.5% purity was seen at Rs 31,220 and Rs 31,020 per 10 grams, respectively.

Read more about: gold, silver
Story first published: Friday, November 2, 2012, 14:31 [IST]
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