Monday 7 October 2019

Gold Prices Fell Slightly As US Bond Yields Rose After The Monthly Labor Report

Gold trading range for the day is 37859-38855.

Gold prices fell slightly as US bond yields rose after the monthly labor report showed the U.S. economy still adding jobs at a decent rate in September.

Data showed services sector activity slowed to a three-year low in September, following the manufacturing sector, which contracted to the weakest level in a decade.

In September, sluggish demand forced dealers to offer a discount of up to $51 an ounce from official domestic prices, the biggest since August 2016.

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