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    Gold edges up as dollar slips ahead of US jobs data

    Traders are holding their positions ahead of Friday’s payrolls report, looking for clues on the Fed’s next move on interest rates.

    Staff Writer
    Staff Writer
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    Article summary

    AI Generated

    Gold edged up 0.1% to $4,081.09 per ounce on Wednesday as a softer dollar boosted the metal's appeal to international buyers. Markets are focused on the US July payrolls report due Friday, alongside ADP employment data later today, for clues on the Fed's next policy move.

    Key points

    • Spot gold rose 0.1% to $4,081.09 per ounce Wednesday
    • US gold futures fell 0.4% to $4,137.20
    • July payrolls report due Friday, ADP data due today

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    Gold edged higher on Wednesday as the dollar continued to weaken, making the metal more attractive to buyers holding other currencies.

    Spot gold was up 0.1% at $4,081.09 per ounce by 00:40 GMT. US gold futures fell 0.4% to $4,137.20.

    Attention this week is fixed on the US jobs report for July, due Friday. ADP’s employment report is also scheduled for release later on Wednesday, offering an early read on labour market conditions ahead of the official payrolls figure.

    Markets are watching both releases closely for signals on whether the Federal Reserve has room to cut rates, or will hold them steady for longer.

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