Gold Stronger Despite Taper Threat

Gold prices rose Monday as investors continued to analyze various U.S. reports and weigh the implications for the Federal Reserve’s next moves.

Gold futures rose 0.01% to $1,784.15 as the dollar showed reversed volatility.

Last Friday’s U.S. labor market data were mixed. Nonfarm payrolls increased by 210,000 in November. That’s down from 546,000 the previous month. The unemployment rate fell to 4.2%, the lowest level in 21 months.

In addition, the Institute of Supply Management’s (ISM) purchasing managers’ index for the non-manufacturing sector was 69.1 in November, higher than expected.

The Fed is likely to slow down the QE program at its meeting at the end of the month in response to the tense inflation situation. This could also lead to an earlier-than-expected rate hike.

In the Asia-Pacific region, the Reserve Bank of Australia will decide on its latest policy on Tuesday. The Reserve Bank of India will follow on Wednesday.

The Spot Market is Open

Monday, December 6, 2021

Metals
Updated at
USD
Bid/Ask
Ounce
Change

Low/High
Gold
12.00
1,780.90
1,781.90
-1.70
-0.10%
1,780.20
1,788.30
Silver
12.00
22.42
22.52
-0.09
-0.40%
22.42
22.68
Platinum
12.00
937.00
947.00
+7.00
0.75%
930.00
954.00
Palladium
12.00
1,746.00
1,896.00
-4.00
-0.23%
1,740.00
1,912.00
Rhodium
12.00
12,850.00
14,850.00
0.00
0.00%
12,850.00
14,850.00

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