Gold stalls

Bengaluru

Gold held steady after hitting its highest in over six weeks earlier on Monday, buoyed as a disappointing U.S. jobs report appeared to dilute the prospects for an aggressive string of interest rate hikes in the US. Spot gold had risen 0.1 percent, to $1,281.40 per ounce by 0115 GMT.

It hit a peak of $1,281.86 an ounce early in the session, its strongest since April 21. U.S. gold futures for August delivery rose 0.3 percent to $1,283.4 an ounce. Palladium on Monday matched its June 2 high of $843.10 an ounce, which was the metal´s strongest since September 2014. The dollar index, which tracks the greenback against a basket of six major currencies, was flat in early Asian trading but not far from Friday´s nadir of 96.654, its lowest since Nov. 9. U.S. job growth slowed in May and employment gains 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.