Reuters: PRECIOUS-Gold rises 1 pct on dollar tumble ahead of U.S. payrolls

Gold rose 1 percent on
Thursday as the dollar fell sharply against the yen and the euro
on fears of disappointing U.S. jobs data the next day.

After trading mostly flat, gold suddenly turned higher at
midday in New York as investors sold long positions on the
greenback - or bets that the U.S. currency will rise - ahead of
Friday's all-important U.S. nonfarm payrolls numbers.

Gold has been under pressure recently on a resurgent dollar
driven by expectations that upbeat data would prompt the U.S.
Federal Reserve to taper its $85-billion-per-month bond-buying
program.

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