Investing.com - Gold futures held steady near the previous session’s three-month high on Wednesday, as investors looked ahead to key U.S. economic data later in the day for further indications on the strength of the economy and the future course of monetary policy.
On the Comex division of the New York Mercantile Exchange, gold for August delivery eased up 0.02%, or 30 cents, to trade at $1,326.90 a troy ounce during European morning hours. Prices held in a tight range between $1,325.30 and $1,328.60.
Gold rose to $1,334.90 on Tuesday, the most since March 24, before trimming gains to settle at $1,326.60, up 0.35%, or $4.60.
Prices were likely to find support at $1,305.40, the low from June 25 and resistance at $1,339.10, the high from March 21.
Also on the Comex, silver for September delivery slipped 0.28%, or 6.0 cents, to trade at $21.05 a troy ounce. Prices rallied to $21.21 on Tuesday, the highest since March 18.
The U.S. is to release the ADP report on private sector job creation in June later in the session. The report comes ahead of Thursday''s monthly government jobs report that is expected to show a gain of 212,000 new jobs in June.
The data will be released one day earlier than usual due to the July 4 U.S. Independence Day holiday on Friday.
Gold prices have been well-supported in recent sessions amid expectations the Federal Reserve will keep rates on hold for an extended period of time after data last week showed that the U.S. economy shrank at an annual rate of 2.9% in the first quarter.
Elsewhere in metals trading, copper for September delivery inched down 0.1%, or 0.3 cents, to trade at $3.201 a pound.