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Gold prices steady to higher in Asia, ECB, U.S. jobs in focus

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Investing.com -

Investing.com - Gold prices were flat to higher in Asia Thursday ahead of the European Central Bank's board meeting on monetary policy and Friday's U.S. non-farm payrolls.

On the Comex division of the New York Mercantile Exchange, gold for August delivery traded at $1,244.70 a troy ounce, up 0.03%.

Silver for July delivery on the Comex slipped 0.04% to trade at $18.785 a troy ounce. Copper for July delivery fell 0.19% to trade at $3.088 a pound.

Overnight, investors eyed a string of U.S. economic reports.

Payroll processing firm ADP said non-farm private employment rose by 179,000 in May, below expectations for an increase of 210,000. April's figure was revised down to a gain of 215,000 from a previously reported increase of 220,000.

A separate report showed that U.S. trade deficit widened to $47.24 billion in April, from $44.18 billion in March whose figure was revised from a previously estimated deficit of $40.40 billion. Analysts had expected the trade deficit to widen to $40.80billion in April.

Meanwhile, sentiment on the euro remained vulnerable after Eurostat on Tuesday said consumer price inflation in the euro zone increased by 0.5% last month, down from 0.7% in April and missing expectations for a reading of 0.7%. The rate stands well below the ECB target of near but just under 2%.

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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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