U.S. nonfarm payrolls due on Friday
ADP employment data on Wednesday
U.S. manufacturing contracted in June
July 2 Reuters Gold prices slipped on Tuesday as the U.S. dollar held firm, while investors awaited comments from Federal Reserve Chair Jerome Powell as well as the country39;s jobs data for further clues about the interest rate outlook.
Spot gold was down 0.2 at 2,326.82 per ounce, as of 0443 GMT. U.S. gold futures fell 0.1 to 2,335.70.
Benchmark 10year Treasury yields rose to their highest levels since late May on Monday, with analysts attributing the move to expectations of Donald Trump winning the U.S. presidency and raising tariffs and government borrowing.
In order for gold prices to break above the current range, the market needs to see further weak data points that increase the possibility of a Fed rate cut in September, said Kelvin Wong, a senior market analyst for Asia Pacific at OANDA.
Lower rates reduce the opportunity cost of holding zeroyielding gold.
Traders will look for cues on rate cuts when Powell speaks later in the day. Other data points on their radar include ADP employment, ISM services PMI and minutes from the Fed39;s latest policy meeting, due on Wednesday, as well as the nonfarm payrolls report, scheduled for release on Friday.
U.S. manufacturing contracted in June, while a drop in a measure of prices paid by factories for inputs suggested that inflation could continue to subside.
Separately, analysts at Citi said they expect gold…