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Monday, 8 August 2016

Live Commodity News: Gold Slips To 1-Week Low

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Gold inched down to a fresh one-week low on Monday, after falling about 2 per cent in the previous session, as stronger-than-expected US jobs data increased the possibility of a rate hike this year by the Federal Reserve.
US employment rose more than expected for the second month in a row in July and wages picked up, bolstering expectations of faster economic growth, and raising the probability of an interest rate increase this year.
Spot gold fell 0.2 per cent to $1,332.80 an ounce by 0649 GMT, after dipping to as low as $1,331.36, the lowest since July 29.
US gold edged down 0.5 per cent to $1,338.40 an ounce.

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