Gold falls as investors wait for U.S. jobs data
By Duncan Richardson, News Editor
04 Jun 2015
The gold price has declined £12.20 per ounce in the last 24 hours as investors wait for the release of the latest U.S jobs report. A weakening dollar has exaggerated the downward price movement in sterling.
The increased likelihood of Greece and its creditors brokering a deal may also be weighing heavy on the market. Greek Prime Minister, Alex Tsipras said the two sides are edging closer to reaching a deal which will unlock further bailout funds.
Investors are waiting for Fridays U.S. jobs report. A better than expected result will increase the likelihood of an interest rate and reduce gold safe haven appeal. Friday’s employment report is expected to show the U.S. economy added 226,000 jobs in May.
Gold is currently trading at £766.98 per ounce, silver £10.68 per ounce, platinum £718.53per ounce and palladium £491.66 per ounce.