Gold rises with the decline of USD and yield on treasury bonds

Gold prices rose Monday, August 7th, after data showing slower-than-expected job growth in the United States negatively affected the dollar and the yield on Treasury bonds, to retreat from high levels they reached recently.

Investors are anticipating an inflation test this week that may affect the path of raising interest rates in the US Federal Council.

By 01:30 GMT, spot gold settled at $1942.33 an ounce, just above its three-week low in the previous session. US gold futures rose 0.1% to $1977.20 an ounce.

The dollar index fell and the yield on 10-year Treasury bonds fell from high levels reached in November after the Labor Department’s jobs report on Friday revealed that the US economy added fewer jobs than expected in July.

New evidence that the labor market is slowing down reinforces the perception that the latest rate hike by the US central bank may be the last in the current monetary tightening cycle.

As for other precious metals, silver fell in spot transactions by 0.1% to $23.57 an ounce, while platinum rose 0.2% to $923.75 an ounce. Palladium rose 0.5% to $1,262.31 an ounce.