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Gold prices crawl up as dollar pauses rally


Monday, 7 May 2018 09:02 WIB

GOLDEMAS Spot EmasEmas berjangka


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Gold prices edged up in early trade on Monday as the dollar took a breather after climbing to its highest level this year in the previous session.

Spot gold rose 0.2 percent to $1,316.62 per ounce at 0034 GMT.

U.S. gold futures for June delivery were up 0.2 percent at $1,317.20 per ounce.

The dollar index, which measures the greenback against a basket of six major currencies, was steady at 92.547 after hitting its best since December at 92.900 on Friday.

U.S. job growth increased less than expected in April and the unemployment rate dropped to near a 17-1/2-year low of 3.9 percent as some out-of-work Americans left the labor force.            

Two Federal Reserve officials who are currently voting members of the U.S. central bank's rate-setting committee said on Friday they were keeping an open mind on the total number of interest rate rises needed this year.            

U.S. interest rate futures rose modestly on Friday, as traders still expect the Federal Reserve to raise key borrowing costs at its June 12-13 policy meeting in the wake of weaker-than-forecast growth in domestic payrolls and wages in April.            

Source: Reuters


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