Unfavorable US economy statistics and slight growth in world gold prices / gold, coin and dollar prices today, September 7, 2020

07 Sep 2020

The price of gold in today's trading on Monday, September 07, 2020, slightly increased following the release of unfavorable US economic data.
The price of an ounce of gold in US futures increased by 0.5% to 1943 dollars and 40 cents.

Gold for immediate delivery fell 0.2 percent to $ 1,935.50 an ounce in trading on Friday, breaking the record low of $ 1,916 on Friday. The price of an ounce of gold in US futures increased by 0.5% to 1943 dollars and 40 cents.

Global gold market trends

"The US monthly employment report released last Friday showed that the economic recovery is still slow," said Stephen Ince, chief strategist at Oxycorp Financial Services. 
Therefore, wage growth in general has remained weak. Also, the outlook for low interest rates has long provided the necessary support for gold prices to remain high.
 Gold rose slightly on Monday after the release of unfavorable US economic data, which boosted long-term expectations for interest rates.

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