Gold prices slightly down on strong US jobs data

Gold prices dipped on Monday due to a robust US jobs report that supported the US Federal Reserve’s decision to hold off on rate cuts, leading to a stronger US dollar and putting pressure on the precious metal.

Spot gold prices rose at 6:45 GMT by 0.03 per cent to $2,688.87 per ounce, compared to the previous closing price of $2,689.63.

Meanwhile, US gold futures increased 0.02 per cent to $2,714.59, compared to Friday’s closing of $2,715.

Attribution: Amwal Al Ghad English, Reuters

Subediting: Y.Yasser