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Gold slightly down ahead of US job claims


Gold slightly down ahead of US job claims
Gold prices fell slightly on Friday as investors remained cautious ahead of US jobless data which is expected to come out later in a day.

Traders and Investors around the world have kept eyes on over the report of the weekly US labor market which is supposed to get released on Friday at 1230 GMT.

Last week new job claims fell from 417,000 to 409,000.

U.S. manufacturing grew in August and fewer Americans filed new claims for jobless aid last week. As per the Reuters survey, Nonfarm job claims are expected to have increased 75,000, slowing from July's 117,000 rise.

Job claims later in a day could move prices of the gold up or down.

The most traded commodity gold for October delivery on MCX opened low at Rs 27,250 per 10 grams and was trading between Rs 27,239 – Rs 27,242 per 10 grams around 11:26 am IST.

Gold for delivery in far-month April which opened at Rs 27,520 per 10 grams. It was trading in the range of Rs 27,743 – Rs 27,768 per 10 grams same time.

Read more about: gold jobless data mcx
Story first published: Friday, September 2, 2011, 11:32 [IST]
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