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06.11.2015 06:14 Gold steady ahead of U.S. jobs data

Gold is currently at $1,108.00 ( 0.34%) ahead of U.S. nonfarm payrolls report due later today. Market participants will eye these data to assess strength of the U.S. economy and the probability of a data-dependant rate hike next month. Strong job creation would raise expectations for higher rates in December and weigh on the non-interest-paying precious metal. Economists expect 180,000 new jobs in October compared to 142,000 in the previous month. HSBC economists said that average job gains of more than 150,000 a month this month and next month might be enough for most members of the Fed's federal open market committee to take the anticipated step at December meeting.



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