Gold price weaker amid firmer USDX, uptick in U.S. bond yields gold silver USbondyields
- Gold and silver prices are lower in early U.S. trading Monday. The metals are seeing modest pressure from a higher U.S. dollar index and a rise in U.S. Treasury yields to start a U.S. holiday-shortened trading week. August gold was last down $9.40 at $1,920.20 and September silver was down $0.05 at $22.97.
It’s still a busy week for the marketplace as the U.S. employment situation report for June is out Friday. The key non-farm payrolls number is forecast up 240,000 versus a gain of 339,000 in the May report. In overnight news, the Eurozone June manufacturing purchasing managers index came in at 43.4, which was slightly lower than market expectations. A reading below 50.0 suggests contraction in the sector.
U.S. economic due for release Monday includes the U.S. manufacturing PMI, the ISM report on business manufacturing, the global manufacturing PMI and construction spending.
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