Gold price steady after Friday’s dip; focus turns to US jobs data

London (Mar 6)  Gold was caught in a very narrow trading range on the morning of Monday March 6 in London, with the market’s attention firmly on US non-farm payrolls data scheduled for release on Friday this week.

The spot gold price was recently quoted at $1,233.45/1,233.80 per oz, down just 80 cents on the previous close. Trade has ranged from $1,231.15 to $1,236.73 so far. Gold prices fell on Friday to their lowest in more than three weeks after US Federal Reserve chair Janet Yellen suggested the US central bank will increase rates.

Source: MetalBulletin