For Arundhati Sarkar
Jun 29 (Reuters) – Gold prices fell Tuesday to hit a low of more than a week, depressed by the rise in the dollar and with the focus on a U.S. jobs report that could provide a clearer picture of the price. next move by the Federal Reserve on monetary policy.
* At 1104 GMT, spot gold was down 0.5% to $ 1,768.83 an ounce, after falling to $ 1,766.20, its lowest since June 21. Gold futures in the United States were down 0.7% at $ 1,768.80.
* “Market participants are reluctant to build new positions because of the repeated failure of gold to break the psychologically important level of $ 1,800, the upcoming labor market data and inflation,” said Carsten Fritsch, an analyst at Commerzbank.
* He also added that the dollar is still quite strong and hinders gold.
* The dollar index rose 0.2%, making bullion more expensive for holders of other currencies.
* The US Labor Department is expected to report a gain of 690,000 jobs in June on Friday, compared with 559,000 in May, according to a survey of Reuters economists.
* In other precious metals, silver fell 0.7% to $ 25.91 per ounce; platinum was down 1.3% at $ 1,076.63; and palladium was down 0.6% at $ 2,670.30.
(Report by Arundhati Sarkar in Bengaluru; edited in Spanish by Janisse Huambachano)