2023-08-07 03:56:15
Gold prices rose on Monday, following data showing slower-than-expected job growth in the United States negatively affected the dollar and the yield on Treasury bonds, retracting from the high levels they reached recently.
Investors are anticipating an inflation test this week that may affect the path of raising interest rates in the Federal Reserve (US Central Bank).
And by 01:30 GMT, gold settled in spot transactions at $ 1942.33 an ounce, slightly above its lowest level in three weeks, which it recorded in the previous session. US gold futures rose 0.1% to $1,977.20 an ounce.
The dollar index fell and the yield on ten-year Treasury bonds declined from high levels reached in November following the jobs report issued by the Labor Department on Friday revealed that the US economy added fewer jobs than expected in July.
New evidence that the labor market is slowing 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.
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