Gold heads for third week of losses amid signs of recovery

Gold heads for third week of losses amid signs of recovery

Gold heads for third week of losses amid signs of recoverySpot gold was down 0.2% at $1,708.07 per ounce as of 0700 GMT, while U.S. gold futures slid 0.9% to $1,711.80. “Gold prices have been under pressure after a miraculous stock market run,” said Edward Moya, senior market analyst at broker OANDA. Investors are now awaiting U.S. nonfarm payrolls data for May due at 1230 GMT.