Gold Rises as Dollar Declines Amid US Inflation Test

Alanbat - Maysara Alshoubaki

 Gold prices growth on Monday after data showed slower-than-expected job growth in the United States, which weighed on the dollar and Treasury yields, sending them down from recent highs.

 Investors are awaiting an inflation test later this week, which could affect the path of interest rate hikes by the US Federal Reserve.

 According to Bloomberg News, gold in spot transactions settled at $1942.33 per ounce, just above its three-week low, while US gold futures rose 0.1% to $1977.20 per ounce.

 The dollar index fell and the yield on the 10-year Treasury note retreated from November highs following the jobs report released by the Labor Department on Friday, which showed that the US economy added fewer jobs than expected in July.

 As for other precious metals, silver in spot transactions fell 0.1% to $23.57 per ounce, while platinum rose 0.2% to $923.75 per ounce and palladium rose 0.5% to $1,262.31 per ounce.