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Gold continued its upward charge again on Wednesday, rising above $1,130 on hopes for economic recovery, which could spark inflation.
February-stamped gold settled at $1,136.50 per ounce, up $17.80 on the session. Prices had reached as high as $1,138.
The dollar edged lower versus the euro, falling below $1.44, adding to gold's hedge value. The greenback also slipped amid choppy trading versus the pound.
Statistics released by payroll processor ADP showed that the private sector shed 84,000 jobs in December. This followed a revised drop of 145,000 the previous month.
The Institute for Supply Management revealed Wednesday that its index of national non-manufacturing activity rose to 50.1 for December. This followed a reading of 48.7 in November. Any reading above 50 indicates expansion in the sector.
Employment data continues to come in with the initial jobless claims report expected at 8:30 a.m. ET. First-time unemployment applicants are expected to rise to 445,000, compared to 432,000 last week.
The Labor Department's payroll report is expected on Friday.
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