Gold settles near its peak in 5 months

Media In 10-12-2018
Gold prices have stabilized after touching a new five-month high early in the session as the dollar weakened after weak US jobs data boosted speculation that the Federal Reserve may stop raising interest rates sooner than expected. .
The spot price of gold stood at $ 1247.99 an ounce by 0700 GMT, after hitting a 11-day high of $ 1250.55 an ounce earlier in the session.
Gold futures in the US futures contract rose 0.1 percent to $ 1254.4 an ounce.
The dollar fell against the euro and the yen after data showed US nonfarm payrolls rose 155,000 jobs last month, lower than economists’ estimates of 200,000 jobs, while wage increases were weaker than expected.
The Federal Reserve is widely expected to raise interest rates at its meeting on December 18 and 19, but attention is focused on how many times the central bank will raise interest in 2019.