Gold prices edged higher on Monday, as softer U.S. jobs data cemented hopes of further fiscal stimulus and pressured the dollar, although bullion’s gains were capped by higher Treasury yields.
Spot gold was up 0.2% at $1,816 per ounce by 0732 GMT. U.S. gold futures rose 0.2% to $1,816.10.
“Markets are justifiably spooked by the very low non-farm payrolls on Friday and that has raised economic uncertainty as well as high expectations for more fiscal stimulus from the U.S., gold has responded to that,” said Howie Lee, an economist at OCBC Bank.
Goldplat plc (LON:GDP) is an AIM-listed, profitable gold recovery services company with two market leading operations in South Africa and Ghana.