Reuters
Fed taper bets knock gold in run-up to U.S. jobs data
Gold fell to test the pivotal $1,800 support level on Thursday, as a key Federal Reserve official’s hawkish comments reinforced bets for early tapering of the central bank’s asset purchases, ahead of a key monthly U.S. jobs report. Spot gold slipped 0.4% to $1,804.79 per ounce by 12:22 p.m. EDT (1622 GMT), and U.S. gold futures also dropped 0.4%, to $1,806.90. Gold prices jumped more than 1% on Wednesday on weaker-than-expected U.S. ADP jobs data, but gave up those gains after Fed Vice Chair Richard Clarida suggested the central bank could begin tapering its asset purchases later this year.