Gold prices rose on Monday, hovering around a two-and-a-half-month peak after disappointing US jobs data raised hopes that the Federal Reserve may wait a little longer to scale back its stimulus measures.<\/p>\n\n\n\n
Gold spot transactions 0.1 percent to $ 1827.82 an ounce. In the previous session, prices rose to their highest level since June 16 at $1,833.80.<\/p>\n\n\n\n
US gold futures fell 0.2 percent to $ 1829.60.<\/p>\n\n\n\n
IG analyst Kyle Roda said gold was being supported by the idea that the Fed might pursue a slower pace of stimulus reduction than previously thought, and a weak US dollar.<\/p>\n\n\n\n
Labor Department data on Friday revealed that US non-farm payrolls increased by 235,000 jobs last month, well below economists’ expectations of 728,000.<\/p>\n\n\n\n
US Federal Reserve Chairman Jerome Powell hinted last month that a strong job recovery was a prerequisite for the bank to begin reducing its asset purchases.<\/p>\n\n\n\n
Some investors consider gold a hedge in the face of inflation that may follow stimulus measures, while low-interest rates reduce the opportunity cost of holding the yellow metal, which does not generate returns.<\/p>\n\n\n\n
The dollar index is hovering near a one-month low against major peer currencies.<\/p>\n\n\n\n
The European Central Bank is due to announce this week that it will reduce the pace of its emergency bond purchases from next quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices rose on Monday, hovering around a two-and-a-half-month peak after disappointing US jobs data raised hopes that the Federal Reserve may wait a little longer to scale back its stimulus measures. Gold spot transactions 0.1 percent to $ 1827.82 an ounce. In the previous session, prices rose to their highest level since June 16 …<\/p>\n","protected":false},"author":9,"featured_media":31385,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[6874],"class_list":["post-50361","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-gold"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/50361","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=50361"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/50361\/revisions"}],"predecessor-version":[{"id":50362,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/50361\/revisions\/50362"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31385"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=50361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=50361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=50361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}