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Gold, Silver Prices Steady-Firm In Quieter Dealings

Gold is trading near steady, while silver prices are just a bit firmer in early-afternoon U.S. trading Wednesday. It’s been a quieter trading session. Rallies in the U.S. stock indexes to new for-the-move highs today was a negative for the safe-haven metals, but selling interest was tempered by a drop in the U.S. dollar index. June gold futures were last down $0.10 an ounce at $1,295.30. May Comex silver was last up $0.039 at $15.10 an ounce.

The U.S. economic highlight so far this week saw the ADP national employment report for March with a gain of 129,000 jobs, which was a significant downside miss. The payrolls number was forecast to be up 173,000. This report is a precursor to the more important jobs report from the Labor Department that is due out Friday morning. The non-farm payrolls number in that report is forecast to be up 175,000 in March, with the unemployment rate expected to remain at 3.8%.

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