Gold Gains and Losses; Fed Outlook in focus

Prices held in a range between USD1,643.25 a troy ounce, the daily low and a session high of

USD1,662.55 a troy ounce. Gold futures fell to USD1,626.05 a troy ounce on January 4, the

lowest level since August 21.

--> Gold prices were likely to find support at USD1,626.05 a troy ounce and resistance at USD1,690.55.

The U.S. Department of Labor said Friday the economy added 155,000 jobs in December, easing

from an increase of 161,000 in November. The unemployment rate held steady at 7.8%.

The jobs report came one day after the minutes from the Fed’s December meeting showed that

some policymakers considered an earlier-than-expected end to the bank’s quantitative easing

program.