Gold prices held onto gains in late Wednesday trade as investors sought safer assets after a private US jobs reading fell short of expectations. The sluggish hiring pace by US firms in May curbed speculation that the Federal Reserve may begin to taper its $85 billion monthly bond-buying program, part of a set of stimulus measures by the Fed known as quantitative easing, or QE.
Spot gold was up 0.4 percent at $1,399.60 an ounce at 2:45 pm EDT (1845 GMT), having earlier touched a session low of $1,395.19. US gold futures for August delivery were up $8.40 an ounce at $1,405.60, off a low of $1,395.10. Among other precious metals, silver was up about 0.9 percent at $22.62 an ounce, spot platinum was up 1.44 percent at $1,509.50 an ounce, and spot palladium was up 0.87 percent at $754.97 an ounce.
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