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Gold trades up over the holiday weekend

With the U.S. taking a long weekend to celebrate Independence Day, the week has gotten off to a steadier start than usual– but the gold bulls have been quick out the gate to gain ground on Monday. With last week characterised by a clear opportunity to buy, we could be seeing the first signs that the window is starting to close. Gold prices started the week by taking advantage of the lull, gaining ground to £1,520 ($1,933), an increase of £3.30 ($4.20) in just a few hours.

With key employment data due to be released on Friday, we could see the yellow metal quickly add to that increase. The prospect of a recession continues to weigh heavily over the economy – a leap in unemployment figures for the month of June could go some way towards persuading the Federal Reserve to skip another rate hike, a move that would likely add yet more momentum to gold prices.

Don’t wait for prices to increase further. Buy now so you’re positioned for success.

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