Gold futures prices rose early on Monday, stimulating near the lowest level in four months, as investors look forward to comments from top Federal Reserve officials and a host of US economic data for further indications on the possibility of raising the interest rate of the central bank during the end of the year.
Comex gold futures were at $1,205.63 a troy ounce, down $4.20, or around 0.4%. It touched it its lowest since March 15 at $1,204.00 earlier.
Spot gold was nearly flat at $1,213.16 per ounce.
Job growth in the United States rose more than expected in June, employers increased working hours for workers, and labor force signs that could keep the Federal Reserve on track to raise its third interest rate this year despite slow wage gains.
US Federal Reserve Board said on Friday that the US economy is still creating jobs and growing at a steady pace, with the confidence of investors and consumers in good health, and the presence of moderate signs of risk in financial markets.
The US Department of Labor added 222,000 jobs last month, more than 179,000 new jobs economists expect. The April and May figures were also revised to show that there were 47,000 jobs more than previously reported.
But while the number of employment strong title, the inflation pressure is still tame. Hourly average wage rose by only 0.2% in June, down from an estimated 0.3% increase.
Holdings in the SPDR Gold Trust fund, declined 0.63 percent to 835.35 tonnes on Friday from 840.67 tonnes on Thursday.
For Commodity Market Trading, MCX Live Trade Calls, Gold-Silver Market Prices and trading market latest news & updates with 100McxTips, follow us on Twitter @100mcxtips and Like on Facebook. And to contact the reporter on this story email at firstname.lastname@example.org or Call: +91-761-4012307.