Gold futures on the COMEX division of the New York Mercantile Exchange extended gains Monday as weak U.S. jobs data continued to ease fears that the Federal Reserve would hike rates in 2015.
The most active gold contract for December delivery went up 1 U. S. dollars, or 0.09 percent, to settle at 1,137.60 dollars per ounce. Analysts said that gold futures went lower on profit taking on Monday morning, but it settled a little higher as last week's monthly U.S. jobs data was sharply lower than expectations, arousing traders' concern that the Fed will continue to delay a hike in interest rates.
Additionally, the Institute for Supply Management said Monday that its services index fell to 56.9 percent in September from 59 percent in August.
Analysts noted that this was below economists' forecast, which also gave some support to gold Monday. As for other metals on the COMEX, silver for December delivery added 44.50 cents, or 2.92 percent, to close at 15.708 dollars per ounce, while platinum for October delivery gained 3.40 dollars, or 0.37 percent, to close at 912.90 dollars per ounce.
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