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Gold steady as dollar softens ahead of US jobs data

Spot gold looks neutral in a range of $1,303-$1,318 per ounce, and an escape could suggest a direction


Gold was steady on Friday after falling to its lowest in over two months the session before, with the dollar slipping as weak US manufacturing data raised doubts on the economy's strength ahead of closely-watched non farm payroll numbers. "(The Federal Reserve head's) comments from last week have put pressure on gold and we need to see the jobs data, which is likely going to be really good," said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong. US factory activity contracted in August for the first time in six months as new orders and ...

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First Published: Fri, September 02 2016. 10:27 IST