Gold prices stabilized in weak trading during the Labor Day holiday in the U.S. on Monday, supported by a slight decline in the U.S. dollar, as traders became more confident that the Federal Reserve is likely done raising interest rates. Spot gold remained steady at $1939.61 per ounce, after reaching a one-month high of $1952.79 on Friday. U.S. gold futures fell 0.1% to $1965.70. Most U.S. markets are closed today in observance of Labor Day. Traders bet on Friday that the Federal Reserve is likely done with its interest rate hike cycle, following a surge in unemployment rates in the U.S. and moderate wage growth indicating a potential easing in labor market conditions.
Gold Stable in Weak Trading
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