Gold is trading slightly higher in early U.S. trading Monday, following the strong gains posted Friday in the wake of a very weak U.S. jobs report. August Comex gold was last up $2.60 an ounce at $1,245.60. July Comex silver was last up $0.08 at $16.445 an ounce.
The marketplace is awaiting a speech later today by Fed Chair Janet Yellen. She may offer new insight into upcoming Fed monetary policy decisions following Friday’s very downbeat jobs report for May that showed a paltry 38,000 rise in the key non-farm payrolls number. Yellen’s speech in Philadelphia is scheduled to begin at 12:30 p.m. EDT.
World stock markets were narrowly mixed overnight in mostly subdued trading. U.S. stock indexes are pointed toward slightly higher openings when the New York session begins.
There is no major U.S. economic data due for release Monday.