Gold steadied on Tuesday below a seven-week high reached the session before as the dollar regained momentum, although uncertainty about the timing of a U.S. interest rate hike kept bullion above $1,200 an ounce.
Spot gold was flat at $1,213.40 an ounce, after hitting a session high of $1,224.10 on Monday, its loftiest since Feb. 17. U.S. gold for June delivery slipped 0.4 percent to $1,213.80 an ounce.
Friday’s disappointing U.S. non-farm payrolls data fueled expectations that the Federal Reserve could delay an anticipated rate increase this year, boosting gold’s safe-haven appeal. U.S. jobs posted the slowest growth in more than a year in March.
Content 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 Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015