Gold prices increased on Monday after data showed slower-than-expected job growth in the United States, negatively impacting the dollar and the yield on Treasury bonds, which has recently retreated from high levels. Investors are awaiting a test of inflation this week, which could influence the path of interest rate hikes by the Federal Reserve. By 01:30 GMT, gold remained steady in spot trading at $1942.33 per ounce, slightly above the three-week low reached in the previous session. U.S. gold futures rose 0.1% to $1977.20 per ounce.
For other precious metals, silver in spot transactions decreased by 0.1% to $23.57 per ounce, while platinum increased by 0.2% to $923.75 per ounce. Palladium rose by 0.5% to $1262.31 per ounce. The dollar index fell, and the yield on ten-year Treasury bonds decreased from high levels reached in November after the Labor Department's jobs report released on Friday showed that the U.S. economy added fewer jobs than expected in July. New evidence of a slowing labor market boosts the perception that the latest interest rate hike by the Federal Reserve may be the last in the current tightening cycle.
