Xinhua, Chicago :
Gold futures on the COMEX division of the New York Mercantile Exchange ended higher yesterday for two days in a row, as traders waited for the January U.S. jobs data, scheduled to be released early Friday.
The most active gold contract for April delivery rose 0.3 U.S. dollar, or 0.02 percent, to settle at 1,257.2 dollars per ounce. According to market analysts, a rally in U.S. equities kept a cap on gains as the gold market digested comments from the European Central Bank’s (ECB) President Mario Draghi and a fall in U.S. jobless claims.
The ECB on Thursday left its interest rates unchanged. Draghi said the ECB remains ready to take decisive action if needed, but its accommodative monetary policy should help to build support for domestic demand, reports say.
Market players have closely been observing for the January U.S. jobs report to gauge if the Federal Reserve will continue to scale back its monthly stimulus program. Some analysts believe, if it is a good number, the odds are high that the Fed may become even more aggressive in withdrawing the stimulus package, which could certainly impact the gold market.
Silver for March delivery rose 12.3 cents, or 0.62 percent, to close at 19.928 dollars per ounce.
