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Gold is trading slightly lower today after yesterday's strong gains on weaker-than-expected U.S. data that dampened concerns over a rate hike in June. Manufacturing activity in March slowed to the lowest level in 14 months and the private sector in the U.S. added 189,000 jobs in March, according the ADP report on Wednesday. It was the slowest pace since January 2014. Now the focus will be on Friday's nonfarm payrolls and today's Initial Jobless Claims. A weaker U.S. dollar also supported the price of gold.
Gold is currently quoted at USD1,202.90, -0,07% a troy ounce. On Thursday the 22nd of January gold reached a five-month high at USD1,307.40. On Tuesday the 17th of march gold traded as low as USD1,142.50, a three-month low.
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