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07.08.2015 06:26 Gold slid ahead of U.S. employment data

Gold slid to $1,087.60 (-0.23%). The precious metal is on track to post a 0.6% decline this week (the seventh weekly decline in a row).

Investors are anticipating U.S. employment data as Fed officials closely watch developments in the labor market. Economists forecast the U.S. economy created 223,000 jobs in July, just like it did in June. A strong report would intensify expectations of a rate hike in September. A higher rate would decrease demand for the non-interest bearing bullion and depress its prices.

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