Gold up after US job data

Gold prices rose in early Asian trade today, Monday, after US jobs data last week overshadowed the strength of the labor market, which prompted investors to be more cautious about the path of raising US interest rates.

By 0104 GMT, spot gold rose 0.1 percent to $1925.49 an ounce, and US gold futures fell 0.1 percent to $1931 an ounce.

According to “Reuters”, the jobs report issued by the US Department of Labor on Friday revealed that the US economy added the lowest rate of jobs in two and a half years in June.

Raising interest rates undermines the attractiveness of gold, which does not yield interest

As for other precious metals, silver increased in spot transactions by 0.1 percent, to $23.09 an ounce. Platinum rose 0.4 percent to $911.40 an ounce, and palladium rose 0.2 percent to $1,246.86 an ounce.