Today’s AM LBMA Gold Price was $1,187.40, €1,070.94 and £785.59 per ounce.
Friday’s AM LBMA Gold Price was $1,179.00, €1,049.24 and £771.04 per ounce.
Markets in London were closed yesterday but gold and silver saw price gains of 0.92% and 1.6% respectively.
In Asia overnight, Singapore gold prices ticked marginally higher but those gains were lost in London trading this morning.
Markets will focus on monthly jobs data on Friday which should give more clues on whether the Federal Reserve will be raising interest rates any time soon. We suspect not given the recent weak data; this should support gold.
A weak jobs number this week should see gold rise above the $1,200/oz level again.
The European Commission slashed Greek economic growth and primary surplus projections today. They forecast deeper price falls and a higher public debt as a result of uncertainty that has dogged Athens policy direction since late 2014.
ECB governing council member Christian Noyer said the spike in eurozone government bond yields in recent days was not a cause for concern.
Assets in gold exchange-traded products held near a six-week high. Gold ETFs holdings were at 1,626.81 metric tons on Monday from 1,627.3 tons on Friday, the highest since March 19, according to data compiled by Bloomberg.
In Europe in late morning trading gold bullion was flat at $1,188.44/oz. Silver was down 0.15% at $16.43/oz and platinum fell 0.29% at $1,147.49/oz.