Gold Holds Near $1260 before U.S. Jobs

Gold scored a modest gain on Thursday, held in check by both a firmer tone to stock markets and caution ahead of a U.S. jobs report on Friday.

Stocks rallied on Wall Street as a better-than-expected report on weekly U.S. jobless claims boosted confidence the economy was improving, curbing some interest in gold as an alternative asset.

It took support however from a rise in the euro versus the dollar after European Central Bank President Mario Draghi said the euro zone economy was proving resilient vis-à-vis emerging markets. Earlier the ECB held its main interest rates at 0.25 percent.


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