Gold Above $1225 on Softer U.S. Dollar and Jobs Data

Gold rose to its highest level in a month on Monday as the dollar slipped on concerns over weakness in the U.S. labor market, burnishing the metal’s safe-haven appeal.

Spot gold climbed to $1,226.16 an ounce – its highest since Dec. 12, before settling up 0.2 percent at $1,224.70 by 0035 GMT. The metal gained about 1 percent on Friday, snapping a three-week decline.  U.S. gold futures rose nearly 1 percent to a session high of $1,226.50, before paring some gains.  Bullion was well-bid as the dollar fell against a basket of major currencies.

Data on Friday showed that U.S. job growth increased briskly in December, but wages posted their biggest decline in at least eight years in a sign the tightening labor market has yet to give much of a boost to workers.


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