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The highly contagious Delta variant has made countries in Asia and Europe walk back on reopening plans, while White House said it would send out special teams to hot spots around the country to combat the contagion.
Investors’ focus is on U.S. non-farm payrolls data due at 1230 GMT which is likely to show an increase of 690,000 jobs last month, as per a Reuters poll.
A print of one million or more in the non-farm payrolls report can expedite Fed’s policy tapering and rate-hike plans, Yang said.
U.S. private payrolls and jobless claims data this week has shown the labor market is gathering speed as the economy fully reopens.
Gold ticks higher as virus fears boost appeal; focus on US jobs data
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PRECIOUS-Gold ticks higher as virus fears boost appeal; focus on U S jobs data
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Platinum eyes worst quarter and month since March last year Investors await U.S. jobs data on Friday (Updates prices)
June 30 (Reuters) - Gold was hovering around an over two-month low on Wednesday as investors awaited U.S. jobs data for further clarity on the Federal Reserve’s policy stance, with the precious metal heading for its worst monthly drop since November 2016.
Spot gold eased 0.1% to $1,759.48 per ounce as of 0717 GMT, having touched its lowest since April 15 at $1,749.20 on Tuesday. U.S. gold futures lost 0.2% to $1,759.30.
Bullion prices are down 7.7% for the month, weighed down by the Fed’s sudden hawkish shift. But they are up 3% for the quarter.
Gold set for biggest monthly drop since 2016 on Fed s hawkish stance
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