Gold up after ECB decision, investors await US jobs data
Friday, 7 February 2014
LONDON, Feb 6 (Reuters): Gold edged up on Thursday after a European Central Bank (ECB) meeting that left interest rates unchanged, and as investors awaited a series of US jobs data for cues over economic growth in the world's largest economy.
As expected, the ECB held its main interest rates at 0.25 per cent.
A mixed bag of US data left investors on edge this week, adding to pressure stemming from the emerging markets turmoil, which at times has underpinned safe-haven assets such as gold and the yen.
Spot gold was up 0.4 per cent at $1,262.26 an ounce by 1306 GMT. Gold rose around $20 an ounce to a near-two-week high of $1,273.26 on Wednesday after a disappointing US jobs report, but pared most of the gains on other strong numbers.
US gold futures for February delivery rose 0.5 per cent to $1,262.60 an ounce.
Data on Wednesday showed that US private employers added 175,000 jobs in January, the smallest gain since August, according to payrolls processor ADP, while growth in the service sector picked up last month.