LOS ANGELES (MarketWatch) — If last week's full lineup of economic news failed to break gold out of its trading range, there didn't seem to be much hope for the Monday session. And sure enough, prices have barely budged ahead of a much more sparse slate of scheduled reports.
Gold for August delivery (GCQ4) was up 20 cents to $1,252.70 an ounce in electronic trade, while July silver (SIN4) rose 3 cents, or 0.2%, to $19.02 an ounce.
AFP/Getty Images Gold ended the Friday session on a sour note but still managed to notch a modest gain for the week as the jobs numbers failed to surprise in either direction.
"The continued strength of the equities market has driven interest out of gold for the better part of the last two and a half years," said Sean Lusk of Walsh Trading. "That could weigh on the metal again ... as the major planned news events are done, and [this] week's U.S. economic calendar is light."
Elsewhere in metals trading, July platinum (PLN4) fall 10 cents to $1,453.00 an ounce while September palladium (PAU4) tacked on 40 cents, or 0.1%, to $843.85 an ounce.
High-grade copper for July delivery (HGN4) shed 2 cents, or 0.7%, to $3.03 a pound.
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