FXstreet.com (Barcelona) - Gold futures continue to slide today, as the dollar recovers against major rivals while fundamentals remain strong. So far the most active gold future for April delivery trades near a daily low of $1333.10 a troy ounce ahead of key employment data.
Risk appetite remains high following yesterday´s gains on Wall Street, as political tensions in the Middle East ease and the private sector continues to report upbeat quarterly results. The positive overall general sentiment is taking away from gold´s typically safe-haven allure, with a stronger greenback further weighing as the EUR/USD pulls away from recent highs.
Regarding economic fundamentals, MBA recently reported a 11.3% growth in mortgage applications last week compared to the 12.9% decline the week prior. Traders will now focus in on the ADP employment change coming up shortly, leading up to Friday´s all-important non-farm payrolls.
