You are here: Home » Reuters » News
Business Standard

Gold steady as dollar holds gains made after U.S. jobs data


By Nithin ThomasPrasadGold held steady near two-week lows on Monday, with the dollar remaining supported by expectations of monetary tightening in the United States following stronger-than-expected jobs data last week."The job data was very good; gold is pressured," said Richard Xu, a fund manager at China's biggest gold exchange-traded fund, HuaAn Gold."There is not much other geopolitical uncertainty in the world, no extreme events. That's why risk-aversion is subsiding and gold prices aren't doing well." Gold is used as an alternative investment during times of political and financial ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Mon, August 07 2017. 15:09 IST