Gold still seen supported by trade war uncertainty
by Myra P. Saefong and William Watts
Gold futures inched higher Thursday, looking to recoup some of the losses suffered a day earlier, with prices getting a modest boost from weakness in the U.S. stock market ahead of monthly domestic employment data due at the end of the week.
Gold for February delivery GCG20, +0.22% on Comex was up $1.70, or 0.1%, at $1,481.90 an ounce, following a loss of 0.3% on Wednesday. March silver SIH20, +0.85% rose 5.4 cents, or 0.3%, to $16.98 an ounce, on the back of a 1.9% loss a day earlier.
“Traders are awaiting the U.S. economic data point of the week, if not the month: Friday’s employment situation report from the Labor Department,” said Jim Wyckoff, senior analyst at Kitco.com.