Gold falls after US jobs report raises Fed hike concerns
Gold took another hit this Monday, dropping slightly after a strong US jobs report made investors nervous about possible interest rate hikes.
Spot gold fell 0.2% to $4,321.49 per ounce, following a bigger drop last Friday.
US gold futures also slipped by 0.5%, as everyone keeps an eye on the Fed's next move.
Oil jump, China adds gold reserves
Rising oil prices (thanks to tensions in the Gulf and more than $2 per barrel jump) are fueling fresh inflation fears, pushing investors toward safer bets instead of gold.
Meanwhile, China's central bank is still stacking up gold reserves for the 19th month in a row.
India gold demand weak, traders bullish
Gold demand in India stayed low because prices are all over the place.
Silver and platinum both dipped a bit, but palladium managed to edge up slightly.
On the bright side, some traders are betting big on gold with net long positions rising noticeably since early June.