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- Gold price moderately higher
Gold price moderately higher
Gold price rose moderately, keeping the position reached last week after the release of weaker-than-expected US labor market data. Such data have weakened the US currency.
On Friday, gold prices rose about 1% after the National Bureau of Labor Statistics reported a lower than expected US employment growth in August.
This week, investors will monitor the statements by John Williams, head of the Federal Reserve Bank of San Francisco. On Tuesday will deliver a speech on the state of the US economy in Reno, Nevada.
On Thursday, European Central Bank President Mario Draghi will hold a press conference in Frankfurt after a two-day meeting of the Bank dedicated to the issue of monetary policy.
According to CFTC in the week of 24-30 August investment managers reduced net long positions in gold to 3-week low at 238,152.
The cost of the October futures for gold on COMEX rose to $ 1328.7 per ounce.
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