Gold prices rose in early Asian transactions on Monday, after US jobs data last week overshadowed the strength of the labor market, which prompted investors to be more cautious about the path of raising US interest rates.
The jobs report released by the US Department of Labor on Friday revealed that the US economy added the lowest rate of jobs in two and a half years in June. But continued strong wage growth indicates that labor market conditions remain tight.
Higher interest rates undermine the attractiveness of non-interest-bearing gold.
Prices have fallen more than 7 percent since reaching near-record levels in early May as investors scaled back their expectations of an end to the US Federal Reserve's rate hike cycle.
