Gold jumped on Monday as the dollar pared gains and shares turned negative, with investor sentiment boosted by shifting expectations on when U.S. interest rates may rise.
Spot gold climbed to its highest since Dec. 11 at $1,235 and was up 1 percent at $1,234 an ounce. U.S. gold futures for delivery in February settled at at $1,232.80 an ounce, the highest since Oct. 22.
U.S. nonfarm payrolls data on Friday showed U.S. wages posted their biggest decline in at least eight years in December, even though payrolls increased by a brisk 252,000. The data added to speculation the Federal Reserve would be cautious in raising rates, which could help non-interest-bearing gold.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015