Gold Rises on Expectations of More U.S. Stimulus
Gold prices rose on Monday, extending the last session’s recovery from four days of declines, as investors bet that Friday’s better-than-expected jobs data would not be enough to head off another round of monetary easing in the United States.
The metal briefly dipped in the wake of data showing that U.S. employers added more jobs than expected last month but quickly rebounded as traders digested a rise in the jobless rate.
Speculation that the Federal Reserve may have to unleash another round of quantitative easing – essentially, printing money – to boost U.S. growth has firmly underpinned gold prices this year.