COMEX Gold hovers around $1740 per ounce

Published on Jan 06, 2023 17:20

Gold came off recent seven month peak as dollar recovered on Friday amid strong US ADP employment data. ADP said private sector employment shot up by 235,000 jobs in December after surging by an upwardly revised 182,000 jobs in November. The yellow metal was supported this week as recent signals from the Fed showed that the central bank will likely raise interest rates at a slower pace in 2023 while fears of a looming recession in 2023 also saw bullion prices benefit as safe haven demand gained momentum. COMEX gold was seen quoting at $1843.80 an ounce, up 0.17% on the day.