Gold prices edged higher in Asia on Friday with jobs data in the U.S. - 6 Jan 2017
PRECIOUS METALS
Gold prices edged higher in Asia on Friday with jobs data in the U.S. eyed for signals on the prospects of the Fed rate hike path in 2017. Gold for February delivery on the Comex division of the New York Mercantile Exchange eased 0.20% to $1.178.95 a troy ounce. Nonfarm payrolls data from the U.S. later Friday is expected to set the tone for gold as it is sensitive to higher interest rates and a stronger dollar. The Fed in December forecast as many as three rate hikes in 2017. Overnight, gold prices rallied to a four-week high on Thursday, as the U.S. dollar stepped further away from a 14-year peak against a basket of major currencies following the release of commentary from the Federal Reserve.
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