- Gold prices inched up in European trade on Monday, hovering below a 28-month high amid speculation the Federal Reserve will remain cautious on interest rates despite last week’s strong jobs report.Gold for August delivery on the Comex division of the New York Mercantile Exchange tacked on $5.45, or 0.4% to trade at $1,363.85 a troy ounce by 06:50GMT, or 2:50AM ET.
- Oil fell on Monday over signs that U.S. shale drillers have adapted to lower prices and on renewed indications of economic weakness in Asia where refiners are already trimming crude runs.Brent crude was trading at $46.26 per barrel at 0942 GMT (5.42 a.m. ET), down 50 cents from its last settlement.
- Silver futures rallied during noon trade in the domestic market on Monday as investors and speculators booked fresh positions in the precious metal tracking a bullish trend in the overseas market amid speculation that the US Federal Reserve may not raise interest rates in the near-term despite Friday’s robust jobs data as it assesses rising global economic uncertainty in the aftermath of Brexit and awaits more signs of a pickup in the world’s biggest economy.
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