Gold tepid ahead of US jobs data

Published on May 03, 2024 18:05

Gold is staying weak, finding it difficult to hold onto modest gains this week. Sustained drop in the US dollar index is not helping the metal much as it lingers around one month low. The metal currently trades at $2308 per ounce, down marginally on the day. Commodity markets are setting themselves up for the release of US monthly nonfarm payrolls data later on today and Gold could see some choppiness ahead of the same. The metal has come off nearly $150 per ounce after hitting a record high in mid-April.