Gold futures hit 2-month high…Fed rate hike hopes wane on weak jobs data

TROW T. Rowe Price Group Inc

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1. 1Gold rose to a 2-month high on Tuesday. Softer U.S. employment data revived expectations that the Fed would avoid additional rate hikes.
2. 2Front-month Comex gold futures settled 0.5% higher at $4,383 per ounce, marking a third straight session of gains and the highest settlement since early June.
3. 3An unexpected drop in July payrolls reduced conviction about a September rate hike, with Wednesday's inflation data set to determine whether the $4,500 level can be breached.

Source GuruFocus.com +1 · View original ↗

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