Gold is recovering from its lowest level in 6 weeks with abandon dollar gains

Gold is recovering from its lowest level in 6 weeks with abandon dollar gains

LONDON (Reuters) – The price of gold and one percent jump on Monday as the dollar fell, prompting the metal to rise from its lowest level in six weeks reached in the previous session but the situation of anticipation and caution on the timing of raising US interest rates kept prices within a narrow range.

Silver also climbed to their highest level in nearly four weeks with abandoning the dollar index up early gains to fall 0.1 percent. Trading was limited in money markets because of a British holiday on Monday, and the closure of London markets.

By 1346 GMT, the spot price of gold rose 0.9 percent to $ 1188.30 an ounce (an ounce) after scoring dollars in 1192, while gold has increased in the US futures contracts for June delivery of $ 13.10 to $ 1187.60 an ounce.

And landed in the spot price of gold transactions on Friday to its lowest level since March 20 to $ 1170.20 an ounce after the Federal Reserve said (US central bank) that the slowdown in the US economy in the recent period and did not rule out a temporary interest rate hike this year.

Investors will be watching US economic data released this week include the jobs report for the month of April on Friday. It is like any weak figures that reinforce speculation that the Fed will delay raising interest rates, which will support gold.

Among other precious metals silver climbed 2.8 percent to $ 16.60 an ounce.

And platinum rose 0.9 percent to $ 1137.32 while palladium rose 0.2 percent to hit 773.47 dollars an ounce.

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