U.S. service sector index at record high in May ADP data suggests similar bounce in nonfarm payrolls -analyst (Updates prices)
June 3 (Reuters) - Gold slid as much as 2.3% on Thursday as better-than-expected U.S. employment and service sector data propelled the dollar higher and boosted expectations that the strong economic readings may reignite taper talk from the Federal Reserve.
Bullion’s retreat also spilled into other precious metals, with silver slipping as much as 4.3% and platinum shedding 3.7%.
Spot gold was down 1.9% at $1,871.91 per ounce by 1:43 p.m. EDT (1743 GMT), after falling to its lowest level since May 20 at $1,864.39. U.S. gold futures settled down 1.9% at $1,873.30.
China factory growth picks up in May - survey Silver hits two-week high Spot gold may rise into $1,932-$1,953/oz range- technicals (Updates prices)
June 1 (Reuters) - Gold prices scaled a near five-month high on Tuesday, driven by a weaker dollar and growing inflationary pressures, while investors awaited more U.S. data to gauge the extent of the global economic recovery.
Spot gold was up 0.4% at $1,915.01 per ounce by 0636 GMT, its highest since Jan.8.
U.S. gold futures rose 0.6% to $1,917.20.
“Gold prices are riding a very strong upward trend . this is against the backdrop of a falling U.S. dollar and also inflation concerns,” said Margaret Yang, a strategist at DailyFX.