Gold prices pare early gains amid rising greenback
On Tuesday, gold pared its early revenues in Asia because the US dollar kept rising and data sets from Japan revealed noted improvements as market participants looked ahead to nonfarm payroll figures in America close to the end of the week for a clearer view of a probable Fed rate lift already in 2016.
In New York, December delivery gold futures sagged 0.06%, trading at $1,326.255 per troy ounce. At the same time, silver futures were almost intact at $18.770 per troy ounce, while copper futures managed to gain 0.29% being worth $2.090 per pound.
In Japan, household spending dropped 0.05% in July year-on-year, which is less than the 0.9% sink expected. The unemployment rate sagged to 3.0%, below the foreseen 3.1% level.
Besides this, in Japan, retail sales edged down 0.2% in July month-on-month, compared with a 0.9% sink foreseen.
Overnight, gold prices kept to overnight losses during North American hours on Monday, trading at five-week minimums after senior Federal Reserve officials indicated an American interest rate soar was on the cards in the nearer future.