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Gold prices ease in Asia, market looks for fresh cues

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Investing.com -

Investing.com - Gold prices eased in Asia on Tuesday with the market looking for fresh cues on demand.

On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1,251.70 a troy ounce, down 0.18%, after hitting an overnight session low of $1,251.70 and off a high of $1,257.20.

The European Central Bank's recent decision to loosen policy coupled with expectations for the Federal Reserve to wind down stimulus programs this year reflected in bond markets on Monday, which weakened the euro and gave gold room to rise.

The dollar, meanwhile, continued to see support on solid U.S. unemployment data, which also dampened gold's advance.

On Friday, the U.S. Labor Department reported that the economy added 217,000 in May, close to expectations for a 218,000 increase, after a 282,000 rise in April, whose figure was revised down from a previously estimated 288,000 gain.

Silver for July delivery was down 0.17% at $19.033 a troy ounce. Copper futures for July delivery were down 0.18% at $3.045 a pound.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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