Gold edges lower in the early morning Asian session on a likely technical correction. Front-month Comex gold futures closed 0.7% higher at $3,867.50/oz on Wednesday, a fresh high.
Any declines in gold may be limited by the ADP report released overnight that showed an unexpected fall in U.S. private-sector jobs in September.
A series of soft data would bring Fed rate-cut expectations closer, supporting gold's move toward higher psychological levels, says XS.com's Linh Tran in an email.
"Gold will continue to grind higher but with intermittent swings around key psychological levels, given the mixed U.S. data backdrop," the market analyst adds. Spot gold is 0.2% lower at $3,858.66/oz.
Source: Dow Jones Newswires
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