World Economy
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Gold Slips

Gold SlipsGold Slips

Gold dipped on Friday ahead of US employment data that could bolster prospects for an interest rate hike this year, and was heading for its third straight weekly slide, Reuters reported. Traders awaited the key US non-farm payrolls report due later in the day for more clues on the world’s biggest economy and how it might impact the Federal Reserve’s interest rate policy. Spot gold was down 0.1% on the day at $1,175.10 an ounce by 1037 GMT, within reach of a five-week low of $1,172.55 hit in the previous session. The metal was heading for a 1% fall on the week. A break below technical support of $1,171 could trigger a decline to a March low of $1,143, ScotiaMocatta said in a note.

 

Financialtribune.com