Gold gains in early Asian trade as investors digest a cooler-than-expected U.S. jobs report. Employers in the country added 57,000 new jobs in June, the U.S. Labor Department said Thursday, lower than economists' expectations for growth of 115,000. A softer labor market is likely to ease pressure on the Federal Reserve to raise its interest rates at its next meeting in July, say ANZ Research analysts in a note. Higher interest rates typically weigh on non-interest-bearing assets like gold, despite the yellow metal's traditional status as an inflation hedge. Spot gold is up 0.4% at $4,138.16 an ounce.(megan.cheah@wsj.com)
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Gold Rises After Cooler-Than-Expected U.S. Jobs Report — Market Talk
Gold gains in early Asian trade as investors digest a cooler-than-expected U.S. jobs report. Employers in the country added 57,000 new jobs in June, the U.S. Labor Department said Thursday, lower than economists' expectations for growth of 115,000. A softer labor market is likely to ease pressure o…