The gold price has fallen slightly but is still above the $1800 mark. Investors are waiting for the latest U.S. labor market data, which will be released on Friday. The data could already give an indication of the further development of the Fed’s monetary policy.
Gold futures contracts fell 0.13% to $1,814.55/ounce Western Standard Time 20:50 (4:50 GMT).
At the same time, the dollar rose slightly but remained near the multi-week low.
On Friday, the unemployment rate and the number of non-farm payrolls for the month of August will be published. Earlier on Wednesday, ADP data for nonfarm employment in August was released. The gain was 374,000 jobs, well below expectations of 613,000 jobs.
Investors are currently looking closely at the labor market figures, as these can be a first indicator for the start of the taper. The Fed has already mentioned last week to closely monitor the upcoming labor market data to decide on the further monetary and interest rate policy.
Other precious metals:
Silver is holding the $24 mark so far and is currently at $24.17/ounce.
Platinum fell 0.6%.
Palladium fell 0.2%.
The spot market is open