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Gold Retreats Monday as US Dollar Strength Returns Following Weekly Rally
The yellow metal experienced a turbulent start to the trading week. Following its strongest weekly performance since May, gold surrendered gains on Monday as the U.S. dollar regained its footing. Spot gold decreased 0.6% to trade at $4,151.66 per ounce during early Monday sessions. Gold futures contracts slipped 0.7% to $4,167.29 per ounce. The previous week painted a contrasting picture. Gold rallied over 2%, marking its strongest weekly gain since mid-May, propelled by disappointing U.S. employment data. The nonfarm payrolls report released Thursday fell short of market forecasts. This development prompted traders ... (full story)
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From gold.org | 6 hr ago
Economic updates were at the fore last week. In the US, weak jobs data and softer manufacturing activity reduced expectations of near-term Fed tightening. Eurozone inflation eased while unemployment remained stable. In Asia, economic activity strengthened in China and Japan, while India’s service sector momentum slowed. • Major global equity markets ...
Spot Gold (XAUUSD) closed at $4,175.70 for the week ending July 3, up $87.31 or +2.14%. The weekly high reached $4,195.51. Gold sold off early in the week before Thursday’s June payrolls data reversed the action and produced the first weekly gain in about a month. Gold has been selling since the January highs with inflation fears and a hawkish Fed keeping ...
Gold prices held near a two-week high on Monday after a cooler-than-expected US jobs report last week slightly tempered expectations of interest rate hikes by the Federal Reserve. Spot gold was steady at $4,175.02 per ounce by 0028 GMT, after posting a weekly gain of more than 2% following four straight weeks of declines on Friday. US gold futures for ...
