What a disparity in the two jobs reports released this week. Yesterday ADP released its private sector payrolls for June which came in more than twice the estimate of economists polled by the Wall Street Journal.

Investors are increasingly anticipating a July rate hike by the Federal Reserve, buoyed by the release of a strong ADP private sector jobs report.

Gold prices have experienced a downward trend recently as the possibility of a Federal Reserve rate hike looms.