Gold poised for second quarterly gain
Tuesday, 1 July 2014
LONDON, June 30 (Reuters) : Gold steadied near a two-month high on Monday, as the dollar remained under pressure ahead of a week packed with economic data. The metal looked set for a second straight quarterly gain after world political tensions bolstered demand for the metal.
Investors were awaiting US jobs data and the European Central Bank (ECB) meeting later this week for clues on future monetary stimulus strategy before placing any big bets. This week's busy calendar of data in the United States includes the June non-farm payrolls report on Thursday, a day earlier than usual due to the July 4 Independence Day holiday.
"There is a lot of US data this week......a strong number from the nonfarm payrolls on Thursday should lift the dollar and US yields higher, suggesting a bit more headwind for gold," Societe Generale analyst Robin Bhar said.