Crude Oil
Oil prices rose on Monday as investors bet U.S. unemployment data released last week indicated the economy is improving and will demand more fuel and energy going forward, though supply concerns weighed on the commodity at times. Crude gains as markets balance U.S. data, supply concerns Oil gains after several sessions of losses, as geopolitical tensions and U.S. data support the commodity The Labor Department reported Friday that the U.S. economy added 209,000 jobs in July, missing expectations for an increase of 233,000, though July marked the sixth consecutive month that the U.S. economy created over 200,000 new payrolls. The U.S. is the world's largest consumer of crude, and hopes for a more robust labor market boosted the commodity, though concerns the U.S. is awash in crude capped gains despite escalating tensions in the Middle East.
Gold
Gold prices fell on Monday after investors ditched safe-haven positions in the yellow metal and went long on U.S. stocks due to earnings and jobs data. Gold falls as stocks gain on U.S. earnings, jobs report Gold dips on earnings, review of U.S. jobs report U.S. stocks rose on Monday after legendary investor Warren Buffett's company Berkshire Hathaway beat expectations, which cut into the need for safe-haven gold positions. The Labor Department reported Friday that the U.S. economy added 209,000 jobs in July, missing expectations for an increase of 233,000, though July marked the sixth consecutive month that the U.S. economy created over 200,000 new payrolls. The report also showed that the U.S. unemployment rate ticked up to 6.2% last month from 6.1% in June. Analysts had expected the rate to remain unchanged in July, though the report revealed that more unemployed Americans were entering the labor force in search of work last month, a positive sign.
