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Gold gains some traction as US$ declines

Gold price gains some traction and holds above $1,920 during an early Asian session on Monday. The weaker-than-expected US jobs data on Friday dragged the US dollar sharply lower across the board and benefited the Gold price.

The US economy added jobs at a slower-than-anticipated pace in June, as the Labor Department reported on Friday that Nonfarm Payrolls (NFP) rose by 209,000 last month, declining from a revised 306,000 in May. The market consensus expected the figure to increase by 225,000.

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