Gold Eases towards $1180 on Greek Optimism

Gold tumbled on Wednesday as shares rose after U.S. data showed its private sector added more jobs than expected in May, and prospects increased of a debt deal for Greece.

Spot gold slipped 1 percent to $1,181 an ounce, while U.S. gold futures for August delivery settled down $9.50, at $1,184.90 an ounce, its lowest since May 11.

U.S. private employers added 201,000 jobs last month, higher than the 165,000 additions in April and economists’ estimate of a gain of 200,000 for May.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.