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Gold Steady After Ho-Hum ADP Report

Gold futures were flat Wednesday as traders weighed a key prelude to Friday's crucial jobs report.

Dec. gold settled at $1,276.80/oz, up $2.20, or 0.2%, ahead of remarks from Fed Chair Janet Yellen this afternoon.

Gold has wobbled of late amid uncertainty over who will succeed Yellen as Fed head if President Trump decides to go with another person.

Employment in the U.S. private sector climbed by slightly more than anticipated in the month of September, according to a report released by payroll processor ADP on Wednesday.

With the south dealing with some hurricane issues, ADP said private sector employment rose by 135,000 jobs in September after surging up by a revised 228,000 jobs in August.

Activity in the U.S. service sector grew at a notably faster rate in the month of September, the Institute for Supply Management revealed in a report on Wednesday.

The ISM said its non-manufacturing index jumped to 59.8 in September from 55.3 in August, with a reading above 50 indicating growth in the service sector. Economists had expected the index to inch up to 55.5.

by RTT Staff Writer

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