World Economy

Gold Steady

Gold SteadyGold Steady

Gold steadied below last week’s 13-month high on Monday, its recent rally doused by robust US employment data that underpinned expectations that the Federal Reserve could raise interest rates this year, Reuters reported. But the Fed is unlikely to lift rates as soon as next week during its policy meeting, providing some support to non-interest bearing gold. Spot gold was up 0.2% at $1,262.05 an ounce. The metal peaked at $1,279.60 on Friday, its strongest since Feb. 3, 2015, but then slipped on data showing that US nonfarm payrolls rose by a forecast-beating 242,000 last month.