<\/p>\n
Gold is trading higher for the fifth consecutive session in mid-European trading today, Monday, September 1, the opening session of the week, trading at its highest level in four months, approaching the record set in April at $3,499 per ounce. Futures prices surpassed the previous record, setting a new high this morning at $3,552 per ounce, benefiting from expectations of a US interest rate cut and a weaker US dollar. Spot gold is trading up about 0.77% at $3,473 per ounce, after testing $3,489 at the beginning of the European session. Silver is trading at $40.58 per ounce, up 2.29%, recording a record high above $40 for the first time since September 2011.
\nGold has been benefiting since the beginning of last week from rising expectations of a US interest rate cut, with markets pricing in a 25 basis point cut at the meeting. September and December are almost certain, in addition to market concerns about the independence of the US Federal Reserve following the dismissal of Lisa Cook by US President Donald Trump, and trade uncertainty after a US court ruled on Friday that global tariffs imposed by Trump were illegal.
\nThis week, markets are awaiting US jobs figures at the end of the week, which are released on the first Friday of each month, as usual. The August figures come after changes and revisions to the leadership of the Bureau of Labor Statistics in July, following figures that Trump described as unrealistic after adding 73,000 jobs in July, and downward revisions to May and June. Erika McIntarver was removed from her position as Commissioner of the Bureau of Labor Statistics following this report.
\nExpectations indicate that the US economy will add 73,000 jobs in August, with wages remaining stable, and the unemployment rate rising by 0.01% to 4.3%.<\/p>\n
The US Dollar Index is trading down 0.30% at 97.47, declining for the fifth consecutive session and losing more than 1% after Powell’s speech in Jackson Hole, which opened the door to an interest rate cut.<\/p>\n
Platinum is trading at $1,380, up 1.15%, while palladium is up 0.13% at $1,110.<\/p>\n
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Gold is trading higher for the fifth consecutive session in mid-European trading today, Monday, September 1, the opening session of the week, trading at its highest level in four months, approaching the record set in April at $3,499 per ounce. Futures prices surpassed the previous record, setting a new high this morning at $3,552 per […]<\/p>\n","protected":false},"author":1,"featured_media":8001,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"nf_dc_page":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-8286","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-jet-metals-markets"],"acf":[],"yoast_head":"\n