Gold futures continued to loose today, as dollar gained little ahead of the non farm pay rolls. The firm trend in the crude oil futures was hardly of any help for the bullion, which is known as a hedge against oil led inflation. The May U.S. employment report is scheduled for release.
EDT (1230 GMT). Expectations are for a loss of 525,000 non-farm jobs and for the unemployment rate to rise to 9.2% from 8.9% in April.
An ounce of Gold on Comex division of the New York Mercantile Exchange is trading at $ 978.8 down $ 5.6 per ounce. In the New York trades yesterday, gold futures recouped most of the previous session's losses on inflation-hedge buying after quarter-end profit-taking and a much stronger dollar had pulled the metal off sharply the day before.
August gold rose $16.70 to settle at $982.30 an ounce, while July silver gained 58.5 cents to settle at $15.895 an ounce.
Comex gold warehouse stocks were down 4,005 ounces at 8,721,752 ounces Thursday, while silver stocks were down 1,003,931 ounces at 119,875,304 ounces.
In other markets that have the potential to impact metals in the short term, the euro is up slightly to $1.4198 from $1.4180 late Thursday afternoon.
In screen trading ahead of the pit open, the June S&P 500 futures are up 5 points to 945.50. July crude oil is up 38 cents to $69.19 a barrel.
MCX June Gold recouped some of it its days losses today and was right now trading at Rs 14860 down Rs 2 per 10 grams. A break above 14950 may take it near 15000 levels.
EDT (1230 GMT). Expectations are for a loss of 525,000 non-farm jobs and for the unemployment rate to rise to 9.2% from 8.9% in April.
An ounce of Gold on Comex division of the New York Mercantile Exchange is trading at $ 978.8 down $ 5.6 per ounce. In the New York trades yesterday, gold futures recouped most of the previous session's losses on inflation-hedge buying after quarter-end profit-taking and a much stronger dollar had pulled the metal off sharply the day before.
August gold rose $16.70 to settle at $982.30 an ounce, while July silver gained 58.5 cents to settle at $15.895 an ounce.
Comex gold warehouse stocks were down 4,005 ounces at 8,721,752 ounces Thursday, while silver stocks were down 1,003,931 ounces at 119,875,304 ounces.
In other markets that have the potential to impact metals in the short term, the euro is up slightly to $1.4198 from $1.4180 late Thursday afternoon.
In screen trading ahead of the pit open, the June S&P 500 futures are up 5 points to 945.50. July crude oil is up 38 cents to $69.19 a barrel.
MCX June Gold recouped some of it its days losses today and was right now trading at Rs 14860 down Rs 2 per 10 grams. A break above 14950 may take it near 15000 levels.
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