Gold trade volume low as investors consider US recovery

Bullion trading was quiet Monday as investors considered last week's positive US jobs data and largely ignored the European Central Bank's commitment to further interest rate cuts if economic conditions continue to worsen in the euro area.

London markets were closed for the UK Early May Bank Holiday, reducing volumes further.

ETF sell-off continue to pose downside risks to the price of gold, which fell 0.1% to $1,468.70 by 18:00 GMT Monday.

Gold investors will look to Tuesday's US consumer credit data report for guidance.

 

Sources: Reuters; Kitco News