Gold Sees Modest Gains Ahead of Key Data Release

Published on Jun 05, 2024 14:14

Gold prices edged up in Asian trading, with investors keenly awaiting the US nonfarm payrolls (NFP) data release. The dollar index held firm above 104, adding to the cautious sentiment. Market attention also turned to final US services PMI and ADP private employment figures. Meanwhile, the Bank of Canada, and the European Central Bank meeting is also closely monitored, with both of them expected to cut the rates. MCX August delivery bullion futures traded at Rs 71,965 per 10 grams, slightly lower from recent highs above Rs 74,500.