Sept 3 (Reuters) - Gold prices edged higher on Thursday
following a steep fall in the previous session, as a weaker U.S.
dollar and worries over the global economic outlook due to
rising COVID-19 cases underpinned the metal's appeal.
FUNDAMENTALS
* Spot gold XAU= inched up 0.1% to $1,944.58 per ounce by
0059 GMT, after falling 1.4% on Wednesday.
* U.S. gold futures GCv1 rose 0.3% to $1,950.60.
* The dollar index .DXY fell 0.1% after a significant rise
in the last session, making gold less expensive for holders of
other currencies. USD/
* U.S. private employers hired fewer workers than expected
for a second straight month in August, suggesting that the labor
market recovery was slowing as the COVID-19 pandemic persists.
* U.S. business activity and employment ticked up through
late August, the Federal Reserve said on Wednesday, but economic
growth was generally sluggish as COVID-19 hotspots hampered
reopening efforts that fueled an early-summer rebound.
* Gold is used as a safe investment during times of
political and financial uncertainty.
* More than 25.88 million people have been reported to be
infected by the novel coronavirus globally and 857,881 have
died, according to a Reuters tally. * Asian equities were set to open higher on Thursday.
MKTS/GLOB
* Market participants now await readings on services
activity in China and the initial U.S. jobless claims report due
later in the day, as well as U.S. payroll figures on Friday.
* Silver XAG= eased 0.1% to $27.48 per ounce, platinum
XPT= rose 0.1% to $906.69 and palladium XPD= fell 0.3% to
$2,241.10.
DATA/EVENTS (GMT)
0145 China Caixin Services PMI Aug
0800 EU Markit Serv, Comp Final PMIs Aug
1230 US International Trade July
1230 US Initial Jobless Clm Weekly
1345 US Markit Serv, Comp Final PMIs Aug
1400 US ISM N-Mfg PMI Aug