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- Gold price traded lower on the U.S. ADP jobs data and on hopes for a debt deal between Greece and its creditors
Gold price traded lower on the U.S. ADP jobs data and on hopes for a debt deal between Greece and its creditors
Gold price traded lower on the U.S. ADP jobs data and on hopes for a debt deal between Greece and its creditors. Private sector in the U.S. added 201,000 jobs in May, according the ADP report on Wednesday. April's figure was revised down to 165,000 jobs from a previous reading of 169,000 jobs. Analysts expected the private sector to add 200,000 jobs.
The increase was driven by a job creation in the services sector.
Official labour market data will be released on Friday. Analysts expect that U.S. unemployment rate is expected to remain unchanged at 5.4% in May. The U.S. economy is expected to add 227,000 jobs in May, after adding 223,000 jobs in April.
The European Central Bank (ECB) President Mario Draghi said at a press conference on Wednesday that he wants Greece to stay in the Eurozone, "but it has to be a strong agreement".
Draghi declined to comment on the debt talks between Greece and its creditors.
June futures for gold on the COMEX today fell to 1190.30 dollars per ounce.
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