Gold prices remain stable ahead of US statistics release

Gold prices on June 3 morning remained virtually unchanged, while data are expected on a possible decrease in the unemployment rate in the US, Report informs referring to the auction data.

Thus, the price of the August futures for gold on the New York Comex stock exchange grew by $0.6, or 0.03%, to $1,872 per troy ounce. July futures for silver rose 0.79% to $22.45 an ounce.

On June 2, gold rose 1.2%, largely due to the weakening dollar. But now, investors in the precious metal have become more cautious, waiting for macro statistics from the US.

Later on June 3, statistics on the unemployment rate in the US will be published. This is one of the most important economic indicators for the Federal Reserve System (FRS) when making monetary policy decisions. Analysts forecast a decline in unemployment in May to 3.5% from 3.6% in April.

The actions of the Fed are reflected in the levels of bank interest rates and the dollar exchange rate, which also affects the value of gold as a largely financial asset.