Gold hits highest level since late April after weaker U.S. jobs data

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Gold hit a six-week high on Monday, buoyed by disappointing U.S. jobs data on Friday that dimmed the prospects for an aggressive run of interest rate increases in the world’s biggest economy. U.S. job growth slowed in May and employment gains in the prior two months were not as strong as previously reported, suggesting the labour market was losing momentum. “Gold has got a bit of a lift from payroll numbers from Friday which has carried through to today but there is also support from terrorist events,” ETF Securities commodities strategist Nitesh Shah said, referring to an attack in London at the weekend.

June 05, 2017 at 05:33PM

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