Gold futures climb to highest close since mid-May U.S. jobs data due Friday as ECB, BOE stand pat on rates

The euro gained following the European Central Bank’s decision to stand pat on its lending rate and cut its 2013 growth forecast, while the yen rallied following Japanese Prime Minister Shinzo Abe’s Wednesday unveiling of plans to spur economic growth. But gold investors’ top concern was Friday’s release of May data on the U.S. job market, which is likely to provide hints on whether the Federal Reserve will soon decide to taper its bond-buying program. Gold’s rise “seems like it’s based upon the weakness in the dollar, which in turn appears to have resulted from comments by ECB President Mario Draghi,” said Brien Lundin, editor of Gold Newsletter.

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