Gold Eases as Dollar Firms

Gold prices edged lower on Monday as the dollar firmed on strong US payrolls report, offsetting support from the prospects that the Federal Reserve would pause its rate hikes this month.

Spot gold was down 0.1% at $1,945.09 per ounce, as of 05:45 GMT, trading in a $7 range.

US gold futures fell 0.5% to $1,959.80.

Gold prices slipped more than 1% on Friday after data showed US nonfarm payrolls rose by 339,000 jobs last month.

The dollar index rose 0.1%, making greenback-priced bullion less affordable for overseas buyers.

Spot silver was down 0.2% at $23.54 per ounce, platinum was up 0.5% at $1,008.07 per ounce, while palladium settled at $1420.10.

Source: Qatar News Agency