Investing.com - Gold futures were lower in midsession European trade Friday, as a stronger greenback pressured the yellow metal on the cusp of a widely expected risk on bullish nonfarm payroll number in the U.S. .
On the Comex division of the New York Mercantile Exchange, Gold futures for December delivery traded at USD1707.45 a troy ounce in midsession European trade, giving back 0.45%.
Pressuring gold and starting the U.S. dollar rally, the Department of Labor said earlier that the number of individuals filing for initial jobless benefits fell to 363,000 last week from 372,000 the previous week, compared to expectations for a decline to 370,000.
The data came on the heels of a report showing that U.S. private sector employment increased more-than-expected in October.
Payroll processing firm ADP said the U.S. private sector added 158,000 jobs this month, surpassing expectations for an increase of 135,000.
Also Thursday, the Institute for Supply Management said its index of purchasing managers rose to a five-month high of 51.7 in October from a reading of 51.5 in September.
A separate report showed that U.S. consumer confidence rose to the highest level since February 2008 in October
It earlier traded at a session low USD1708.55 a troy ounce. Gold was likely to find support at USD1705.45 and resistance at USD1727.25.
US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, soared 0.38% to trade at USD80.43.
Elsewhere on the Comex, Silver for December delivery fell 0.80% to trade at USD31.987 a troy ounce while Copper for December delivery fell 0.68% to trade at USD3.528 a pound.
On the Comex division of the New York Mercantile Exchange, Gold futures for December delivery traded at USD1707.45 a troy ounce in midsession European trade, giving back 0.45%.
Pressuring gold and starting the U.S. dollar rally, the Department of Labor said earlier that the number of individuals filing for initial jobless benefits fell to 363,000 last week from 372,000 the previous week, compared to expectations for a decline to 370,000.
The data came on the heels of a report showing that U.S. private sector employment increased more-than-expected in October.
Payroll processing firm ADP said the U.S. private sector added 158,000 jobs this month, surpassing expectations for an increase of 135,000.
Also Thursday, the Institute for Supply Management said its index of purchasing managers rose to a five-month high of 51.7 in October from a reading of 51.5 in September.
A separate report showed that U.S. consumer confidence rose to the highest level since February 2008 in October
It earlier traded at a session low USD1708.55 a troy ounce. Gold was likely to find support at USD1705.45 and resistance at USD1727.25.
US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, soared 0.38% to trade at USD80.43.
Elsewhere on the Comex, Silver for December delivery fell 0.80% to trade at USD31.987 a troy ounce while Copper for December delivery fell 0.68% to trade at USD3.528 a pound.