NEW YORK (Reuters) – Gold futures prices fell on Wednesday after the release of upbeat US employment data pushed the dollar higher as investors still look to the close of the Fed’s monthly monetary policy meeting.
Comex gold futures were up 0.50% or about $6.22 at $1,276.61 a troy ounce.
Spot gold was down 0.1 per cent at $1,269.86 per ounce.
MCX Gold futures were down 0.15 per cent, or Rs 45, at Rs 29,108 per 10 gram.
The dollar strengthened after the payroll processor reported that employers in the US private sector added 235,000 jobs in October, beating economists’ expectations.
The dollar index, which measures the strength of the dollar against a basket of six major currencies, rose 0.21% to hit 94.65.
Trump said Federal Reserve Chairman Jerome Powell considered him more cautious than other contenders.
In broader markets, the dollar rose against a basket of currencies, while Asian stocks rose at a 10-year high on Wednesday on strong global economic growth.
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