FUNDAMENTALS
Spot gold was up 0.1% at $1,831.72 per ounce by 0131 GMT, after hitting its highest since Feb. 11 at $1,842.91 in the previous session.
U.S. gold futures were up 0.2% at $1,834.00 per ounce.
The dollar index languished near a more than two-month low versus major peers, making gold less expensive for other currency holders.
U.S. job growth unexpectedly slowed in April, likely curbed by shortages of workers and raw materials as rapidly improving public health and massive government aid fuelled an economic boom.
The 266,000 jobs that U.S. firms added in April were “nowhere near” what was expected, a Federal Reserve official said on Friday, and added little to the “substantial further progress” officials want to see before considering changes to monetary policy.
Lower interest rates decrease the opportunity cost of holding non-yielding bullion
Stocks rose on Monday, while oil prices jumped after a cyber attack on a U.S. pipeline operator unnerved markets.
Physical gold demand in India dived last week as shops shuttered and people turned cautious due to surging coronavirus infections across the world’s second-largest bullion consumer.
Speculators increased their bullish positions in COMEX gold and silver contracts in the week to May 4, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday.
Palladium rose 0.3% to $2,934.58 per ounce.
Silver gained 0.8% to $27.65 per ounce, while platinum was up 0.6% at $1,256.47.
DATA/EVENTS (GMT)
0730 UK Halifax House Prices MM April
