Gold is trading lower today for a fourth consecutive day - ending last month in negative territory. Gold prices were pushed lower by a stronger U.S. dollar as the precious metal which is dollar-denominated becomes more expensive for holders of other currencies. Today market participants will closely watch U.S. data on Employment - the ADP Employment Report - and the ISM Manufacturing report to get further indications on the strength of the world's largest economy and on the timing of a future rate hike by the Federal Reserve.
Gold is currently quoted at USD1,181.80, -0,14% a troy ounce. On Thursday the 22nd of January gold reached a five-month high at USD1,307.40. On Tuesday the 17th of march gold traded as low as USD1,142.50, a three-month low.