Gold wobbles around $1,300

FXStreet (Edinburgh) - The ounce troy of the precious metal is grinding lower at the beginning of the week, keeping the trade in levels just shy of the $1,300 handle so far.

The risk-on sentiment has taken over the markets on Monday following the ‘disappointing’ US Payrolls from last Friday (192K act. vs. 200K esp.), and prompting spot to surrender further ground. After the steep correction lower from March peaks around $1,380, gold found decent support near $1,280 although it seems to lack the vigour to leave behind $1,300 once again.

At the moment gold is down 0.25% at $1,300.