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Gold rises on hopes of low interest rates post bleak US jobs data

US nonfarm payrolls data on Friday showed jobs growth unexpectedly slowed in April, pushing the dollar to a more than two-month trough, making gold less expensive for holders of other currencies

US job data | Gold  | Global Markets


Gold prices rose on Monday, hovering near a three-month peak, as a shocking miss in US jobs numbers last week cemented expectations that interest rates will remain low for some time, denting the dollar and boosting non-yielding metal's appeal. Spot gold was up 0.3 per cent at $1,835.44 per ounce by 0845 GMT, after hitting its highest since Feb. 11 at $1,842.91 on Friday. US gold futures gained 0.3 per cent to $1,836.40. "We are seeing a carry over this morning from Friday's non-farm payrolls figures which were surprisingly disappointing. Clearly both the US dollar and ...

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First Published: Mon, May 10 2021. 15:29 IST