Gold Futures Settle Modestly Higher As Dollar Eases

Trading 08 avr 2019 Donner votre avis

Gold prices moved higher on Monday as the dollar eased and stock markets exhibited a sluggish trend ahead of the earnings season.

Traders were also looking ahead to the minutes of the Federal Reserve's March meeting and news on Brexit and U.S.-China trade negotiations.

The dollar index dropped to a low of 96.08 and subsequently edged up a bit to 97.04, down more than 0.3% from previous close.

Gold futures for June ended up $6.30, or 0.5%, at $1,301.90, the first close above $1,300 since March 27.

On Friday, gold futures ended up $1.30, or 0.1%, at $1,295.60 an ounce.

Silver futures for May ended up $0.130, at $15.216 an ounce, while Copper futures for May closed at $2.9320 per pound, gaining $0.3750 for the session.

On Friday, the Labor Department's jobs data showed a notable increase in jobs in the month of March, but average hourly wages dropped in the month.

While employment increased, wage growth lost momentum in March, with average hourly earnings rising a modest 0.1% after jumping 0.4% in February.

The moderation in wage growth reiterated investor expectations that the Fed will suspend further interest rate increases this year.


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