— Gold prices regained some ground on Monday but a firmer dollar and concerns that the US Federal Reserve might keep hiking interest rates kept bullion below the key $1,900-an-ounce level.
Bullion prices had dropped about 2.5% on Friday after data showed US job growth accelerated sharply last month and the unemployment rate hit a more than 53½-year low of 3.4%.Federal Open Market Committee “Markets are now expecting the Fed to keep peak rate [still around 5%] on hold for longer. This could depress gold's appeal in the interim.”
Those bets helped the dollar index rise 0.2%, adding pressure on gold by raising its cost for buyers holding other currencies.
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