Gold at Four Week High above 1250

Gold extended gains to a third session on Monday to hit its highest in nearly a month after a surprisingly weak U.S. jobs report stoked expectations that the Federal Reserve could temper the pace of its stimulus tapering.

Spot gold edged up 0.1 percent to $1,248.39 an ounce by 0018 GMT, after hitting $1,250.06 earlier – its highest since Dec. 16. The metal gained nearly 1 percent last week.

U.S. employers hired the fewest workers in nearly 3 years in December, but the setback was likely to be temporary amid signs that unusually cold weather may have had an impact. Nonfarm payrolls rose 74,000 in December, well short of the 200,000 jobs or so that economists had expected.


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.