Gold price trades below $1,820 as U.S. private payrolls surprise on the upside in February gold economy ADP
Gold edged down after private-payrolls processor ADP reported a better-than-expected increase in jobs last month. Federal Reserve Chair Jerome Powell's comments from Tuesday's testimony still weighed on the precious metal.
Private payrolls rose by 242,000 in February, ADP said on Wednesday. Market consensus was calling for an advance of 200,000 after January’s data saw an increase of 119,000 jobs. In reaction to the data, gold ticked down, with April Comex gold futures last trading at $1,816.90, down 0.17% on the day.
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