Gold rises from the lowest level in 6 weeks with anticipation the US employment performance

Gold rises from the lowest level in 6 weeks with anticipation the US employment performance


Gold prices rose from their lowest level in six weeks during trading on Monday, supported by weak economic data in China, in anticipation of the performance of the employment sector in the United States.

The Foundation announced “Market” Research said its index of manufacturing purchasing managers in China have recorded a decline to 48.9 points in April from 49.6 points in March

The yellow metal has been subjected to strong selling pressure on Friday, recording a loss for the third consecutive week, after data showed jobless claims fell in the United States during the week ending 25 April to the lowest level in 15 years.

Investors are awaiting the US government’s announcement on Friday the number of new jobs in the economy during the month of April, in addition to the unemployment rate in the world’s largest economy.

Prompt delivery rose gold price of about 0.4% to $ 1183 an ounce at 12:03 GMT.

Futures price for the precious metal has also increased by about 0.6% to $ 1181.7 an ounce

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