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- Gold near three-week high
Gold near three-week high
Gold is currently at $1,084.90 (+0.07%) after jumping to a three-week high on short-covering in the previous session amid strong U.S. jobs data.
The U.S. Department of Labor reported on Friday that the U.S. economy created 211,000 jobs in November compared to expectations for a 200,000 gain. The unemployment rate remained at 5% in line with expectations. The Federal Reserve is now widely expected to raise interest rates later this month.
Normally a strong payrolls report would have weighed on bullion, however last Friday investors covered their short positions preparing for better investment opportunities.
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