Gold prices stabilized near their lowest levels in three weeks, Thursday, August 3, after a larger-than-expected increase in US private sector jobs in July boosted bets on further monetary tightening in the United States and pushed the dollar and bond yields higher.
There was little change in gold in spot transactions at $ 1935.20 an ounce by 01:00 GMT, to remain near its lowest level since July 12, recorded in the last session.
US gold futures fell 0.2% to $1,970.90.
The dollar index rose to its highest level in four weeks, and the benchmark 10-year Treasury bond yields recorded their highest levels since November on Wednesday, after data showed US private sector job growth increased by 324,000 jobs last month, exceeding Reuters expectations of an increase of only 189,000 jobs.
Silver in the spot market fell 0.1% to $23.72 an ounce, while platinum fell 0.4% to $917.74. The two metals recorded their lowest levels in about three weeks.
Palladium fell 0.5% to $1,237.19 an ounce.
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