SINGAPORE, June 4 (Reuters): Gold was treading water on Wednesday, hovering near a four-month low hit in the previous session, as investors await U.S. economic data, amid increasing optimism about growth and sluggish bullion demand in Asia.
Markets are eyeing U.S. private hiring data later on Wednesday and nonfarm payrolls on Friday to gauge economic strength. Gold is often seen as an investment-hedge at times of economic uncertainty.
Spot gold was flat at $1,245.80 an ounce by 0636 GMT. The metal hit a four-month low of $1,240.61 on Tuesday, before closing flat and snapping a five-day losing streak.
Asian shares were steady on Wednesday and the dollar benefited from rising U.S. Treasury yields. "I think prices will stabilize here for a short while around $1,245 before making another big jump either way," said a trader in Hong Kong. "People are mostly waiting for Friday's payrolls data before taking any big positions."
Gold holds near 4-month low
FE Team | Published: June 05, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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