WASHINGTON (dpa-AFX) - Gold futures barely budged Thursday despite downbeat economic news, including a disappointing prelude to Friday's U.S. jobs report.
With stocks falling, gold posted a second straight miniscule gain. August gold settles at $1,223.30/oz, up $1.60, or 0.1%.
Employment in the U.S. private sector rose by less than expected in the month of June, according to a report released by payroll processor ADP on Thursday.
ADP said private sector employment climbed by 158,000 jobs in June after jumping by a revised 230,000 jobs in May.
Activity in the U.S. service sector unexpectedly grew at an accelerated rate in the month of June, the Institute for Supply Management revealed in a report on Thursday.
The ISM said its non-manufacturing index rose to 57.4 in June from 56.9 in May, with a reading above 50 indicating growth in the service sector. Economists had expected the index to edge down to 56.5.
Elsewhere, European Central Bank policymakers agreed that there was a need to maintain caution in communication as underlying inflation was still subdued and substantial monetary policy stimulus was necessary to support the ongoing euro area recovery, minutes of the June 7-8 policy session held in Tallinn, Estonia, showed Thursday.
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