Gold price below two and a half month high

The Gold Price fell in Asia on Monday morning, but remained below its two and a half month high. A disappointing US employment report suggested that the US Federal Reserve might postpone its asset run-down schedule, which gave a boost to the yellow metal. Gold futures were down 0.30% to $ 1,828.25 by 12:15 AM ET (4:15 AM GMT) after hitting $ 1,833.80 in the previous session, their highest since June 16. Investors are still digesting the latest US labor market report, released on Friday, which saw non-farm employment fall 235,000 in August. Given the smallest gains in seven months and the fact that the Fed is making the labor market recovery a condition for the start of tapering, investors now expect the central bank to delay the start of the process. Meanwhile, the unemployment rate was 5.2%. The report also pushed the dollar index, which normally moves in reverse to gold, to its lowest level since August 4th. The dollar rose slightly on Monday. In the meantime, the Reserve Bank of Australia and the European Central Bank will announce their respective monetary policy decisions on Tuesday and Thursday. On the demand side, physical gold demand in the Asian centers was largely subdued over the past week as prices rose again. However, there is hope that the upcoming festive season in India could boost demand. Data from the US Commodity Futures Trading Commission indicates that speculators increased their net long positions in COMEX gold and silver for the week ended August 31. For the other precious metals, the Silver Price was unchanged at $ 24.69 an ounce. In the previous session, prices rose 3.4%, the largest daily increase since the beginning of May. Platinum fell 0.6% while palladium rose 0.2%.