Gold prices earn smartly in Asia

On Tuesday, gold earned in Asia as market participants kept mulling the likelihood of a Fed rate lift this month in the wake of poorer than expected American jobs data at the end of last week.

In New York, December delivery gold futures surged 0.31%, trading at $1,330.85 per troy ounce. Additionally, December delivery silver futures gained 1.35%, trading at $19.627 per troy ounce, while copper futures last traded at $2.082 per pound.

Overnight, gold prices stood still close to a one-week peak during North American hours on Monday, as trade volumes were supposed to remain light with many traders in the USA away for the Labor Day holiday.

On Friday, gold headed north to a one-week high of $1,334.00 as downbeat American employment data decreased the likelihood that the Federal Reserve will lift interest rates at its policy gathering later this month.

In August, the American economy added 151,000 jobs, thus disappointing expectations for a surge of 180,000 and slowing from the 275,000 positions generated in July, the Labor Department reported on Friday.

Scroll to top