2024.03.1109:59:00UTC+00Gold Holds Steady Near Record Peak

Gold held steady near record highs on Monday after the latest U.S. jobs report proved to be a mixed bag.

Spot gold held steady at $2,180.69 per ounce after ending Friday almost 1 percent higher. U.S. gold futures were up 0.1 percent at $2,187.35.

A weaker dollar on the back of weak economic data helped gold prices end about 5 percent higher last week.

The dollar slipped lower in early European trade as February jobs data offered conflicting signals on the U.S. economic and rate outlook.

The report showed stronger-than-expected jobs creation, un uptick in the unemployment rate to 3.9 percent, cooler wage growth and notable downward revisions to job growth in the previous two months.

Non-farm payroll employment surged by 275,000 jobs in February, while economists had expected an increase of 200,000 jobs.

The numbers for December and January were revised downward by a total of 167,000. investors now look ahead to the release of key U.S. consumer price inflation and producer price data this week for further direction.

Elsewhere, investors are increasingly confident the European Central Bank (ECB) may lead global peers with a rate cut in June.