Gold up to $1258 Ahead of Important U.S. Data

Gold ended higher on Wednesday after mixed U.S. data left investors uncertain over the pace of recovery in the world’s largest economy.

U.S. private employers added 175,000 workers in January, slightly fewer than the 180,000 increase forecast by analysts polled by Reuters. The December reading was downgraded to 227,000 from the originally reported 238,000.

Separately, financial data firm Markit said growth in the U.S. services sector quickened to a four-month high in January and hiring remained robust, while the U.S. services sector rebounded in January after two months of slower growth.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.