Precious Metals Preview: COMEX gold steadies above $3300 mark

COMEX gold continues to steady above $3300 levels on Friday but is seen set for a weekly gain. The yellow metal fell yesterday after a surprisingly positive jobs report pushed up the US Dollar. US nonfarm payrolls rose by 147,000 in June, above forecasts of 110,000. The US unemployment rate edged down to 4.1% in June contrary to expectations of an uptick to 4.3%.Initial jobless claims in the US eased by 4,000 from last week to 233,000 for the week ending June 28. The data hampered investors' expectations that the US Fed would go in for a rate cut before their September meeting. Meanwhile, easing geo-political tensions in the Middle East is reducing appeal for the safe haven commodity. Currently, the counter is quoting at $3338.40 an ounce, down 0.13% on the day.

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