Gold Prices Steady After Last Week’s Fall

On Monday the yellow metal, gold traded steady near its four-month lows. US jobs data influenced the market mood and also suggested that the Federal Reserve would maintain its stance on monetary tightening.

Since March 15 gold touched its lower, but on Friday session even as the bullion fell more than 2% in the previous week and had a flat at USD 1,213.16/ounce on Monday.

For August gold futures rose 0.3% to USD 1,212.80/ounce. In US economy the wage growth came out to be 0.2%, also reflective of inflation level in the economy, its measure is important as it may influence the Federal Reserve decision on interest rates.

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Suhani Verma

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