Gold tertopang By Weak NFP USA August

Gold tertopang By Weak NFP USA August

Gold acquisition expands in Asian session on Monday (08/09) this afternoon due to disappoint US NFP data released last week. Non-farm payrolls figures reported much lower than expected impact on the shrinking hopes it will increase the federal funds rate more quickly. In addition, the development of the crisis in Ukraine is still observed by the investors.

gold
Spot gold rose 0.2 percent to $ 1,271.09 per ounce figures at 10:49 pm, following an increase of as much as 0.6 percent on Friday. The increase in the gold price occurred shortly after firms in the United States reported that they employ fewer workers in August, where the creation of jobs in this period is the least in the whole year 2014.

The demand for gold in Asia is still quite high due to the collapse of the Asian stock on Monday. Even so, the volume of trade is small due to the Chinese market, the world's largest gold consumer, in order to close the national holiday.

"Gold gained fresh wind in line with weak jobs data in the United States in August." said Victor Thianpriya, an analyst with ANZ.

Weak employment data was feared would make the Fed think twice to raise interest rates. While rising interest rates would shrink demand for assets that do not yield as air-gold.