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Gold Shrugs Off U.S. Jobs Data as China Keeps Buying
Monday, 8 July 2019 17:13 WIB | PRECIOUS METALS |GOLDEMAS Spot Emas

Gold shrugged off Friday's better-than-expected U.S. payrolls data to climb back above $1,400 an ounce, as China said it increased holdings of the precious metal for a seventh straight month.

Gold is bouncing back after posting its first weekly decline in seven weeks. Holdings in exchange-traded funds backed by the metal declined Friday but remain near the highest in six years. Investors will also be watching for delayed positioning data from the CFTC, expected later Monday.

Spot gold gained 0.4% to $1,405.32/oz. Prices -0.7% last week to snap six straight weeks of gains.

Source : Bloomberg

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