BEIJING: Gold inched up in Asian trade after weaker-than-expected U.S jobs data released the previous day tempered expectations of a rise in interest rates by the Federal Reserve before the end of the year.
The dollar’s strength has emerged as the biggest influence on price of the yellow metal in recent weeks. Physical demand from Asia has tapered though prices are quoting well below a psychological threshold of $1,200/oz. Investors in China have preferred to hitch on to a rally in stocks rather than gold as the outlook remains uncertain until a decision is taken on U.S. interest rates. Spot gold is currently trading at $1,189.07/oz, up from the opening price of $1,187.64/oz.
