Gold prices will remain listless for the remainder of the year as investors await more visibility on when the U.S. Federal Reserve will start cutting bond purchases, analysts say.
Bullion prices largely defied expectations for a sharp drop following forecast-beating U.S. jobs numbers, which some said may signal an earlier withdrawal of stimulus measures by the Federal Reserve.
The metal traded in a wide range on Friday, dropping sharply to five-month lows after strong U.S. jobs data but ending the day higher on short-covering, Reuters reported. Spot gold rose 0.14 percent to $1,229.90 an ounce at 12.20 pm Singapore time.
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