Gold slid to $1,083.80 (-0.17%). The Institute for Supply Management reported on Wednesday that the index of economic activity in U.S. non-manufacturing sector exceeded expectations and rose to 60.3 in July. New orders and backlog orders climbed to 63.8 and 54.0 respectively. This report argues for an upcoming rate hike in the U.S.
Investors are anticipating U.S. employment data as Fed officials closely watch developments in the labor market.