Gold futures edge higher, gains seen limited | News Canada Binary
Gold futures edge higher, gains seen limited | News Canada Binary.
Gold futures edge higher, gains seen limited
. Make Huge returns on Investments & Make dreams come true!
The Future is Binary – Gold futures edged higher on Friday, but gains were expected to remain limited as Thursday’s upbeat U.S. employment data continued to lend support to the U.S. dollar.
Gold prices gain some ground but remain under pressure
On the Comex division of the New York Mercantile Exchange, for August delivery traded at $1,321.80 a troy ounce during European afternoon trade, up 0.09%.
The August contract settled 0.77% lower on Thursday to end at $1,320.6 a troy ounce.
Gold futures were likely to find support at $1,309.40 an ounce, Thursday’s low and resistance at $1,333.20, the high from July 7.
On Thursday, the U.S. Department of Labor said non-farm payrolls rose by 288,000 last month, easily surpassing expectations for an increase of 212,000. The previous month’s figure was revised up to a gain of 224,000 from a previously reported increase of 217,000.
The unemployment rate ticked down to a four-and-a-half year low of 6.1% from 6.3% in May. Analysts had expected the jobless rate to hold steady at 6.3% last month.