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Mitsubishi Motors

Gold Higher After Two Days of Losses

Gold rose on Wednesday, recouping some strength after two days of losses but remained near its lowest in seven weeks on expectations of strong jobs data in the world's largest economy.Spot gold edged up 0.3 percent to $1,283.20 an ounce by 0956 GMT, still within reach of its lowest since Feb. 11 at $1,277.29 hit in the previous session.Gold futures for April delivery rose $4.00 to $1,284.00 an ounce."It's a big data week... in addition to the various economic numbers already seen, we've got the NFPs (U.S. non farm payrolls) coming up and there is some repositioning ahead of that," Mitsubishi analyst Jonathan Butler said."We have ADPs (employment data) later today.. and there will be a greater search for meaningful clues from the Fed as to whether a genuinely hawkish stance is being taken as suggested a couple of weeks ago or not."Gold fell in the previous session after data showed U.S. factory activity accelerated for a second straight month in March and auto sales surged, the latest s...

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