| After the US job market report on Friday, global gold prices recouped losses made in the early part of the week and closed at $1,094/ounce, down 0.15 per cent. The market now believes that the Federal Reserve may not put through multiple rate increases this year.
Data from US department of Labour showed that the non-farm pay rolls rose by 2,15,000 in July against the expected additions of 2,23,000. However, as long as US rate hike fears hang like a sword over gold prices, there can be no sustained relief rally in gold. In the coming few weeks, if signs emerge of a strengthening labour market in the US, this will again fan the market’s expectation of a more than one rate hike in 2015 and gold will take a beating...............................................Full Article: Source
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