Gold Up as Positive U.S. Employment Record Continues to Cast its Glow ….LIVE NEWS UPDATE BY ROYAL TRADERS


Gold was up on Monday morning in Asia, rallying from losses during the previous session.

Gold futures were up by 0.60% at $1,693.15  by 12:25 AM ET (5:25 AM GMT). Stocks, which usually move in the opposite direction to gold, were also up on Monday.

Investors retreated from the safe-haven yellow metal during the previous session after the U.S. Labor Department released an employment record that exceeded expectations on Friday. Non-farm payrolls increased by 2.5 million against a projected 8-million decrease, and the jobless rate for May was 13.3%, down from April’s 14.7%.

For the upcoming week, investors will focus on the U.S. Federal Reserve’s two-day policy meeting that starts on Wednesday for clues on further stimulus measures and the policy rate.

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