Gold fell on Monday,
reversing earlier gains to extend a 2-percent decline in the
previous session, as stronger-than-expected U.S. jobs data
fuelled uncertainty over the outlook for the Federal Reserve's
stimulus programme.
The United States added more jobs in May than the month
before, denting hopes for prolonged stimulus and weighing on
gold's appeal as a hedge against inflation.
"The higher-than-expected reading now increases the
likelihood that the Fed may start to pull back some of its
stimulus earlier than expected," said INTL FCStone analyst
Edward Meir.
Read more...
No comments:
Post a Comment