Gold futures rise as the U.S. dollar weakens and investors position themselves ahead of key U.S. economic data. Futures are up 0.6% at $3,420.80 a troy ounce. The precious metal has edged higher as the weaker dollar improves gold's comparative safe-haven aspects.
U.S. Treasurys also began to slide in the previous session, further supporting gold, SP Angel analysts say in a note. The 10-year fell below 4.4% for the first time since early May, as weak ADP numbers raised concerns over the strength of the U.S. labor market, SP Angel says.
Market attention now turns to Friday's nonfarm payroll reading, which will be closely watched for clues as to the size and scope of potential interest-rate cuts later this year, it says. Lower interest rates typically boost non-interest bearing bullion.
Source: Marketwatch
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