Gold Holds Drop as Equities Rally on Solid U.S. Jobs

Monday, 9 December 2019 09:27 WIB



Gold held a decline after a better-than-expected U.S. payrolls report on Friday led to a surge in equities, damping demand for haven assets.

Job gains roared back in November and wages topped estimates, giving the Federal Reserve more reason to hold interest rates steady after three straight cuts. Payrolls jumped 266,000 last month, the most since January, according to a government report that topped all forecasts in a Bloomberg survey.

In focus this week are the Fed’s and the European Central Bank’s policy meetings, which may offer clues on whether more easing is in store in 2020. In addition, investors are awaiting signals from Washington and Beijing ahead of a Dec. 15 deadline, when more U.S. levies are set to kick in.

Spot gold little changed at $1,460.63/oz at 9:49am in Singapore; -1.1% on Friday. Prices remain +14% YTD. Silver little changed at $16.5526/oz after -2.3% on Friday.

Source : Bloomberg


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