Gold futures settled higher on Wednesday, supported by possibility of interest rate cuts by Federal Reserve in September after soft jobs data. The Automatic Data Processing (ADP) reported that around 152,000 jobs were created in the private sector last month, a decrease from the downwardly revised tally of 188,000 in April. However, stronger US dollar capped some gains in the session. While, investors awaited the U.S. non-farm payrolls data due later this week.
Gold futures for August delivery gained by $28.1 or 1.19% to $2375.50 per ounce on the Comex division of the New York Mercantile. While, spot gold up by $ 0.57 points or 0.13% to $ 2368.84 an ounce.