Spot gold falls 0.1% as investors await US jobs data
There has been a spike in interest in gold bullion and gold coins like Krugerrands. Picture: BLOOMBERG/CHRIS RATCLIFFE
Spot gold fell 0.1% to $1,875.66/oz at 3.07am GMT, while US gold futures were steady at $1,875.40. Bullion has declined about 1% so far this week. “I would not be surprised to see another above-consensus wage print, and this may not be good for bullion as the market would read those tea leaves as a sign of improving the odds for a 75 basis point hike at the July Federal Open Market Committee meeting,” said Stephen Innes, managing partner at SPI Asset Management.
Gold, which offers no yield of its own, tends to fall out of favour among investors when interest rates rise.
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