(RTTNews) - The price of gold was little changed Wednesday morning as the U.S. dollar was mixed ahead of private sector employment report.
Gold for February delivery, the most actively traded contract, edged up $3.90 to $1,722.80 an ounce.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,297.32 tons.
This morning, the U.S. dollar was trading flat versus a basket of currencies.
In economic news from the euro zone, inflation remained at the highest level since October 2008, flash estimates from Eurostat showed. Inflation was 3 percent in November, unchanged from October. The figure has been staying above the central bank target of 'below, but close to 2 percent' since December 2010.
Meanwhile, Germany's unemployment declined notably in October, according to the results of the labor force survey. The number of unemployed decreased by 30,000 or 1.4 percent in October from a month ago, the Federal Statistical Office said. At the same time, unemployed declined by 571,000 annually to 2.19 million.
Elsewhere, the prices of silver and platinum moved lower in morning deals
From the U.S., ADP National Employment report is scheduled to be released at 8:15 a.m. ET. Economists expect an addition of 125,000 jobs by the private sector in November following an addition of 110,000 jobs in October.
Later during the session, the results of the Institute of Supply Management-Chicago's business survey for September are scheduled to be released. Economists expect the business barometer index based on the survey to edge up to 59.
Data on Pending Home Sales, which is a leading indicator of housing market activity released by the National Association of Realtors, is due out at 10 AM ET. The index is expected to have risen by 1.5 percent in October following a 4.6 percent drop in September.
