Gold Hits Highest In Over Six Weeks As U.S. Jobs Data Disappoints

Gold held steady after hitting its highest in over six weeks earlier on Monday, buoyed by disappointing U.S. jobs data that appeared to dilute the prospects for an aggressive string of interest rate hikes in the United States. U.S. job growth slowed in May and employment gains in the prior two months were not as strong as previously reported, suggesting the labor market was losing momentum despite the unemployment rate falling to a 16-year low of 4.3 percent.

Spot gold had climbed 0.1 percent to $1,280.74 per ounce by 0352 GMT. It hit a peak of $1,281.95 an ounce early in the session, its strongest since April 21. U.S. gold futures for August delivery were up 0.2 percent at $1,283.3 an ounce. Palladium on Monday matched its June 2 high of $843.10 an ounce, which was the metal's strongest since September 2014. 
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