(RTTNews) – Gold costs moved sharply greater throughout buying and selling on Monday, extending the robust upward transfer seen throughout final Friday’s session.
After leaping $89.80 or 1.9 p.c to $4,951.20 an oz within the earlier session, gold for February supply surged $99.70 or 2 p.c to $5,050.90 an oz.
The continued advance by the value of gold got here amid weak point within the worth of the U.S. greenback, with the U.S. greenback index sliding 0.7 p.c.
The U.S. greenback moved to the draw back forward of the discharge of a number of key U.S. financial stories on the approaching days.
The Labor Division’s intently watched month-to-month jobs report, which was delayed as a result of temporary authorities shutdown final week, is prone to be within the highlight.
The report is anticipated to point out employment climbed by 70,000 jobs in January after rising by 50,000 jobs in December, whereas the unemployment fee is anticipated to carry at 4.4 p.c.
Experiences on retail gross sales and shopper worth inflation are additionally prone to entice consideration, as the information may affect the outlook for rates of interest.
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