Gold futures settled higher on Wednesday, supported by softer-than-expected jobs data. The ADP national employment report showed, private employment rose by 98,000 jobs last month after an unrevised 122,000 advance in May. Additionally, Federal Reserve Chair Kevin Warsh said inflation expectations and risks have declined in recent weeks, which also boosted yellow metal rates. Meanwhile, Investors focus turned to Thursday's U.S. payrolls report for further clues on the Fed's monetary policy path.
Gold futures for August delivery rose by $43.90 to 1.09% to settle at $4082.40 an ounce on the Comex division of the New York Mercantile. Spot gold up by $38.25 or 0.95% to $4,068.9000 an ounce.
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