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Gold holds close to seven-week peak as markets assess Iran risks and Fed outlook
['Fiona Craig', 'Mon', 'August', 'At Am Gmt', 'Min Read']
Yahoo Finance
Spot gold gained 0.3% to $4,354.51 an ounce as of 03:03 ET (07:03 GMT), while U.S. gold futures also advanced 0.3% to $4,414.40.
Bullion climbed to its highest level since June 17 on Friday after U.S. employment figures showed that the economy unexpectedly lost jobs in July.
Weak U.S. jobs data shifts Fed expectationsThe disappointing employment figures prompted investors to substantially reduce expectations for an interest-rate increase at the Federal Reserve's September meeting.
Attention is now turning towards U.S. consumer inflation figures scheduled for Wednesday, followed by producer price data on Thursday.
"Copper has rallied sharply on expectations of US import tariffs, as traders rush metal into the US and physical markets tighten.