Gold Wavers With U.S. Investors out for Labor Day

Gold futures swung between small gains and losses on Monday, as investors struggle to find trading clues with most U.S. markets closed for the Labor Day holiday.

Market participants also cautiously waited for the closely watched the Federal Reserve meeting next week.

Gold for December delivery slipped 60 cents, or 0.1%, to $1,120.80 an ounce, building on a 1.1% loss from last week. The contract shaved off $3.10 on Friday after the monthly U.S. nonfarm payrolls report offered a mixed picture of the health of the country’s labor market, with 173,000 jobs added to the economy in August.

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.