The price of gold was slightly lower this morning, with further movement likely to be determined after the release of US labor market data, trading results and analyst comments showed.

As of 7:59 a.m. Bulgarian time, December gold futures on the Comex exchange in New York fell by $3.25, or 0.19%, to $1,727.25 per troy ounce.

December silver futures were down 1.08% at $20.872 a troy ounce.

Traders' attention remains focused on the US labor market report due on Friday.

Markets expect the country's September unemployment rate to remain at August's level of 3.7 percent, while nonfarm payrolls rose by 250,000.

"Until the employment report shows... a result, support for gold should remain and it could test the level of $1,750 per troy ounce," said Oanda senior market analyst Edward Moya, quoted by Bloomberg, BNR reported .

At the same time, copper prices rose slightly, holding back gains from Tuesday, trading data showed.

As of 8:13 a.m. Bulgarian time, December copper futures on the Comex exchange rose in price by 0.21% to 3.5025 dollars per pound.

On Tuesday, copper rose in price by 2.4%.

In late trading on Tuesday on the London Metal Exchange (LME), copper for three-month delivery rose 2.8% to $7,718 a tonne, aluminum rose 5.79% to $2,348 and zinc - by 2.92% to $3,047.

The dollar index (exchange rate against a basket of currencies of six US trading partners) fell 1.4% to 110.2 points from 111.75 points earlier in the day.

A weaker dollar supports demand for commodities, including copper, which becomes more affordable when bought in another currency.

Markets continue to monitor key market indicators, including the outlook for demand, amid risks of a global recession.

Meanwhile, stock markets in China, a major consumer of copper, remain closed for the long weekend, leading to lower trading volume.



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