(RTTNews) - Gold was paring its recent gains Thursday morning as the U.S. dollar was trading firm ahead of key jobs data, due out tomorrow.
Gold for December delivery, the most actively traded contract, eased $7.10 to $1,824.60 an ounce. Yesterday, gold ended marginally higher amid disappointing ADP jobs data.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,232.31 tons.
Meanwhile, the U.S. dollar moved up to a 2-week high versus the euro and sterling, while ticking higher against the yen. The buck was trading weak versus the Swiss franc.
In economic news from the euro zone, manufacturing activity in the region declined in August to the lowest level since August 2009 and below the flash estimate, final data from Markit Economics showed. The final Markit Purchasing Managers' Index fell to 49 from 50.4 in July.
Germany confirmed its anemic growth estimate for the second quarter, detailed results from the Federal Statistical Office revealed today.
The prices of silver and platinum were ticking lower in morning deals.
In economic news, the U.S. Labor Department will release its weekly jobless claims report at 8.30 a.m. ET. Economists expect the claims to ease to 409,000 from the earlier week's 417,000.
Later during the session, the Institute for Supply Management will release the results of its manufacturing survey. Economists expect the purchasing managers' index based on the survey to dip into contraction territory to 48.5 in August from 50.9 in July.
