Gold futures tad lower ahead of US jobs data

Posted By: Religare
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Gold futures tad lower ahead of US jobs data
Gold futures were trading with slim losses in the domestic market on Friday as investors and speculators stayed cautious over booking fresh positions in the precious metal ahead of the US jobs data for the month of May which may shape the outlook for the country's monetary policy.

A slowdown in the pace of jobs growth may prompt the Federal Reserve to maintain its fairly accommodative monetary policy stance for a while yet, boosting the prospects for gold as a store of value.

Gold futures for June 2014 contract, at MCX, is trading at Rs. 25,963 per 10 grams, down by 0.05 per cent, after opening at Rs. 25,936, against the previous closing price of Rs 25,975. It touched an intra-day low of Rs 25,915. (At 11:17 AM). Check gold rates here

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