Gold prices holding gains as U.S. ADP shows 535K jobs gains in November

New York (Dec 1)  The gold market is holding on to modest gains Wednesday even as the private sector labor market continues to improve, according to the latest report from private-sector payrolls processor ADP.

Wednesday, ADP said that 535,000 jobs were created this past month, slightly beating  expectations; consensus forecasts were calling for job growth of around 525,000.

The gold market was trading in positive territory ahead of the data and is holding firm in initial reaction to the labor market data. February gold futures last traded at $1,786.50 an ounce, up 0.56% on the day.

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