DAILY BUZZ
GOLD
- Gold held onto gains on Monday following its biggest one-day jump in over three weeks as investor worries about an early US interest rate hike eased when the nonfarm payrolls report failed to meet market expectations.
- Data on Friday showed that US non-farm payrolls increased by 192,000 jobs last month, slightly below economists' estimate of 200,000.
- Markets feared that a strong jobs report, which followed a recent string of good economic data, could prompt a tightening of US monetary policy after Federal Reserve Chair Janet Yellen indicated last month that interest rates could rise in the first half of 2015.
- Low interest rates, which cut the opportunity cost of holding non-yielding bullion above other assets, had been an important factor driving bullion higher in recent years.
- Spot gold was steady at $1,302.36 an ounce by 0349 GMT, after gaining 1.2 percent on Friday - its biggest percentage increase since March 12.
- The metal wasn't too far from a one-week high of $1,306.50 hit in the previous session.
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