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

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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, gold 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.

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worked in the plastic blow molding industry for over 30 years in many facets from inspection ( Quality control) to development team. Have had more then a passing interest in computers and the internet for over 20 years, some Web programming and design, on-line auctions and ecommerce from 1997 till 2006 . was involved with the online auction cooperative movement from 1999- 2002 .. ran my own Domains & web servers for online sales Store fronts , promoteing my auctions called Dman-N-Company , a niche type auction site Musicplus. Richard Dambrosi

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