Economics
Gold Trades Near Three-Month Low as Fed Outlook Trumps Greece
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Gold traded near a three-month low as the outlook for higher U.S. interest rates this year outweighed demand for a haven spurred by Greece’s debt crisis. Palladium declined.
Investors’ focus shifted to when the Federal Reserve will raise interest rates before Greece’s weekend referendum on austerity measures that may help to determine whether the country remains in the euro zone. A Labor Department report on Thursday showed U.S. companies added 223,000 jobs in June while wages stagnated and the size of the labor force receded.