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Gold prices stable near 2010 low
(MENAFN) Gold steadied on Thursday as investors awaited US employment data that could bolster prospects of the US Federal Reserve raising interest rates as early as next month.
US non-farm payrolls are due on Friday and economists polled by Reuters predict employment in July to increase at the same pace as June's 223,000 rise.
"The market is not able to go significantly higher, and with the dollar strength and positioning on the short side, there could be a break below support of $1,080," MKS SA head of trading Afshin Nabavi said.
US non-farm payrolls are due on Friday and economists polled by Reuters predict employment in July to increase at the same pace as June's 223,000 rise.
"The market is not able to go significantly higher, and with the dollar strength and positioning on the short side, there could be a break below support of $1,080," MKS SA head of trading Afshin Nabavi said.
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