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Gold remains above $4,300 after gains
Gold prices settled above $4,300 an ounce on Monday after an American labor market report showed an unexpected decline in July employment, reducing the likelihood of the Federal Reserve raising interest rates. Despite a slight profit-taking decline, the precious metal remained above its 50-day moving average, supported by continued positive flows from China and increasing reserves held by the central bank there, boosting expectations of rising demand for gold. This indicates that markets are looking ahead to upcoming inflation data to determine the trajectory of monetary policy, with growing support from hedge funds and ongoing inflows, despite gold retreating from recent high levels amid geopolitical risks in the Middle East.
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