LONDON: Gold steadied after falling to a one-week low on Monday as downward momentum from stronger-than-expected US jobs figures late final week misplaced steam, with considerations over damaging international financial sentiment lending help.
The payrolls knowledge on Friday reignited hypothesis that the Federal Reserve might press forward with rate of interest hikes later this yr.
Spot gold was up zero.1 per cent at $1,336.forty an oz at 1419 GMT, after dipping to $1,329.fifty five, the bottom since July 27. US gold for December supply edged zero.1pc decrease to $1,342.ninety an oz.
Gold is very delicate to rising charges, which raise the chance value of holding non-yielding belongings similar to bullion, whereas boosting the greenback, during which it’s priced.
Amongst different valuable metals, silver was up 1pc at $19.eighty five an oz after hitting a close to two-week low at $19.fifty six. It fell 3pc on Friday. Platinum gained zero.9pc to $1,152.10, whereas palladium was up zero.4pc at $696.forty seven.
Revealed in Daybreak, August ninth, 2016
Your email address will not be published. Required fields are marked *
Sign me up for the newsletter!
The content is the property of the Roznama Urdu and without permission of the publisher will be considered copyright infringement..