Open Demo Account
Home / Market Update / Commodities / Gold rises after US jobs data
Gold

Gold rises after US jobs data

Adel 10 July, 2023 9:32 am Commodities, Forex Market, Market Update

Gold prices rose in early Asian trade on Monday after last week’s US jobs data overshadowed the strength of the labor market, prompting investors to be more cautious about the path of US interest rate hikes.

By 0104 GMT, spot gold rose 0.1 percent to $1925.49 an ounce, and US gold futures fell 0.1 percent to $1931 an ounce.

A jobs report released by the US Labor Department on Friday revealed that the US economy added the lowest rate of jobs in two-and-a-half years in June.

Higher interest rates undermine the attractiveness of non-interest-bearing gold.

As for other precious metals, silver increased in spot transactions by 0.1 percent, to $ 23.09 an ounce. Platinum rose 0.4% to $911.40 an ounce, and palladium rose 0.2% to $1,246.86 an ounce.

Tags

Check Also

AUD Plummets to Five-Year Low as China’s Tariff Bombshell Rocks Global Markets

In a dramatic twist of global economic fortunes, the Australian dollar has crashed to its …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends