Gold cuts losses as dollar pauses; focus on U.S. jobs data

05-May (Reuters) – Gold edged higher on Tuesday as the dollar paused ahead of U.S. non-farm payroll data later in the week that could give clues as to when the Federal Reserve will raise interest rates.

Spot gold fell initially then rebounded 0.3 percent to $1,191 an ounce by 1143 GMT. U.S. gold futures for June delivery were up $3.30 an ounce at $1,190.10.

The dollar pared earlier gains to trade flat against a basket of major currencies.

…Speculation over the timing of a rate rise has kept markets on edge. Doubts still persist over the robustness of the U.S. economy as data has been mixed, with many traders pushing expectations of a rate increase from June to later this year.

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