July 2 (Reuters) - Gold prices slipped on Thursday, easing
from a near eight-year high hit in the previous session, as
strong U.S. data and hopes for a potential COVID-19 vaccine
dented safe-haven sentiment.
FUNDAMENTALS
* Spot gold XAU= fell 0.2% to $1,767.11 per ounce by 0034
GMT, after touching $1,788.96 on Wednesday — its highest since
October 2012.
* U.S. gold futures GCv1 fell 0.2% to $1,777.30.
* Manufacturing activity in the United States rebounded in
June, hitting its highest in more than a year, as the broader
economy reopened. * Similar surveys from China, Germany and France all pointed
to a recovery in factory activity, while the ADP National
Employment Report showed U.S. private payrolls in June increased
by 2.369 million jobs. * A COVID-19 vaccine developed by German biotech firm
BioNTech BNTX.O and U.S. pharmaceutical giant Pfizer PFE.N
has shown potential and was found to be well tolerated in
early-stage human trials. * Optimism over a potential COVID-19 vaccine and better than
expected economic readings lifted investors' appetite for
riskier assets. MKTS/GLOB
* Focus now shifts to June U.S. employment data due later in
the day.
* Meanwhile, The U.S. House of Representatives passed
legislation on Wednesday that would penalise banks doing
business with Chinese officials who implement a national
security law. * Hong Kong police fired water cannon and tear gas and
arrested more than 300 people on Wednesday as protesters took to
the streets in defiance of sweeping security legislation
introduced by China to snuff out dissent. * Palladium XPD= gained 0.3% to $1,909.70 per ounce, while
platinum XPT= fell 0.2% to $813.94 and silver XAG= rose 0.2%
to $17.97.
DATA/EVENTS (GMT)
0900 EU Unemployment Rate May
1230 US Non-Farm Payrolls June
1230 US Unemployment Rate June
1230 US Initial Jobless Claims Weekly
1400 US Factory Orders MM May