IV:Gold prices up in Asia in buying after overnight dip, year-end demand
Investing.com - Gold prices rose in Asia on Wednesday as investors bought on an overnight dip and demand rose ahead of the end of the year holidays.
On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,223.70 atroy ounce, up 0.24%. Overnight gold prices hit a session low of USD1,214.90 a troy ounce and high of USD1,225.40 a troy ounce in choppy trading on uncertainty over the strength of the November jobs report due out on Friday.
On Wednesday, the U.S. is to release the ADP report on private-sector job creation, while the Institute of Supply Management is to release its service-sector purchasing managers' index. The U.S is also to publish data on new home sales and data on its trade balance.
Demand prospects in India and China, the world's top two buyers of the precious metal, are also being closely watched with India stabilizing its currency after a sharp decline earlier this year helping the country's jewellery industry, among its largest exporters, with import costs.
Elsewhere on the Comex, silver for March delivery was up 0.39% at USD19.140 a troy ounce, while copper for March delivery was up 0.16% and trading at USD3.167 a pound.
