Gold (XAU/USD) is trading higher for the second consecutive day on Wednesday, standing above the $5,000 psychological level, trading at $ 5,050 at the time of writing, with markets calm ahead of the release of the US ADP Employment Change Report, due later on Wednesday. Precious metals remain weighed by a steady US Dollar, buoyed by the end of a two-day shutdown and the positive reaction to the nomination of Kevin Warsh as the next Fed Chairman. The Greenback's rally seen over the last few days, however, seems stalled. In this context, the ADP is likely to set the near-term direction for the USD, and probably also ... (full story)