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Gold prices surge moderately in Asia

On Monday, gold soared during Asia trade with a week-long holiday in China dimming regional activity as well as traders looking ahead to American jobs data at the end of the week.

In New York, December delivery gold futures gained 0.13%, hitting $1,318.85 per troy ounce.

In September, the semi-official PMI from the China Federation of Logistics and Purchasing as well as the National Bureau of Statistics was 50.4, quite intact from the previous week just as expected.

In the coming week, Friday’s American nonfarm payrolls report  is considered by many as the clearest indicator of the health of the labor market, amid everlasting speculation as for whether American interest rates will be raised this year or not.

The major US financial institution raised its rates for the first time in nearly a decade in December and forecast rates would soar four times in 2016, though officials have just acknowledged that the mixed economic recovery suggests that rates are likely to remain low for longer.

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