Gold Rises in Asian Trading as Markets Await U.S. Labor Data
Gold prices rose in early Asian trading. The precious metal has traded in a range for several weeks as markets weigh fast-moving developments in the Middle East against shifting expectations for U.S. monetary policy, Bas Kooijman, CEO and asset manager at DHF Capital S.A., said in a report. Progress in U.S.-Iran talks could push oil prices lower, ease inflation concerns and drive bond yields down, reducing downward pressure on gold, Kooijman said. He added that markets will closely watch U.S. labor data for signals about expectations for Federal Reserve monetary policy. Spot gold rose 0.2% to $4,063.40 an ounce.
Gold prices rose in early Asian trading. The precious metal has traded in a range for several weeks as markets weigh fast-moving developments in the Middle East against shifting expectations for U.S. monetary policy, Bas Kooijman, CEO and asset manager at DHF Capital S.A., said in a report.
Progress in U.S.-Iran talks could push oil prices lower, ease inflation concerns and drive bond yields down, reducing downward pressure on gold, Kooijman said. He added that markets will closely watch U.S. labor data for signals about expectations for Federal Reserve monetary policy.
Spot gold rose 0.2% to $4,063.40 an ounce.
Progress in U.S.-Iran talks could push oil prices lower, ease inflation concerns and drive bond yields down, reducing downward pressure on gold, Kooijman said. He added that markets will closely watch U.S. labor data for signals about expectations for Federal Reserve monetary policy.
Spot gold rose 0.2% to $4,063.40 an ounce.