Investing.com - Gold prices rebounded in early ASia on Tuesday with physical deman in focus ahead of a traditional season of INdian buying.
On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,257.30 troy ounce, up 0.24%, after hitting an overnight session low of $1,252.20 and off a high of $1,272.50.
Overnight, gold prices edged lower after the dollar moved higher as investors shrugged off Friday's weak August jobs report and bet more upbeat economic indicators will continue to hit the wire down the road.
Federal Reserve Chair Janet Yellen has said that slackness persists in the labor market despite an improving economy, and Friday's data sent investors rethinking timetables as to when interest rates may rise in the U.S., seen by many taking place in 2015.
Gold prices saw support on expectations that the Fed may wait a little longer to raise interest rates after it closes its monthly bond-buying program, which is seen taking place in a month or so.
By Monday, gold prices dipped and the dollar firmed, as the August jobs report tends to be subject to hefty revisions anyway.
Recent factory gauges, service-sector reports, retail sales figures, broader economic growth numbers and other indicators have suggested the U.S. economy is stronger than the August non-farm payrolls data would suggest.
Silver for December delivery rose 0.49% at $19.053 a troy ounce. Copper futures for December delivery fell 0.07% at $3.182 a pound.