The euro was last up half a cent against the dollar at 1.1264 after a weak U.S. jobs report on Friday – non-farm payrolls rose 142,000 in September, below the forecast of 201,000, and the August figure was revised down to 136,000 from 173,000.
Gold futures for the most-actively traded December contract rose $1.00, or 0.1%, to $1,137.60 a troy ounce on the Comex division of the New York Mercantile Exchange. Gold settled flat as traders eyed the release of upcoming U.S.jobs data as increasing expectations for a USA rate hike before the year end. The metal had gained 2,2 percent on Friday, its biggest one-day rise since January 15.
“We expect gold to continue trading around Fed expectations, dependent on USA economic data points”, said Barclays in a note. This influenced gold prices in futures market in India as well.
“However, other indicators, such as auto sales were strong, and we need more evidence on that one before we can come to a conclusion and gold’s support could be short lived”. “This sparked doubts about whether the US Federal Reserve would in fact implement a first interest rate hike before the year is out”, says Commerzbank. Silver rallied 5.4 per cent on Friday then extended gains on Monday on technical buying to its highest in almost three months at $US15.71 an ounce, before paring gains to a rise of 2.5 per cent at $US15.62.
Platinum was trading up 1.7 percent at $920.74, after hitting a near-seven-year-low of $888 in the previous session. Platinum has been hit after revelations last month that Volkswagen falsified U.S. vehicle emission tests, which a few believe could affect demand for diesel cars. OnMonday, the metal rose to its highest in two weeks of $15.35.