0747 GMT – Gold futures rise, holding higher levels after surging Friday on weak U.S. jobs data and trade tariffs. Futures are up 0.2% at $3,407.0 a troy ounce. The precious metal posted its biggest gain in two months on Friday after the release of U.S. nonfarm payroll data. The release showed employment data for July was far short of market expectations and greatly revised down previously reported employment numbers for May and June. The slowdown in U.S. job growth has boosted expectations of interest-rate cuts, a boon for noninterest bearing bullion, MUFG analysts say in a note. Gold should be well-supported in the near term as traders increasingly price in rate cuts and hunt for safe-haven assets amid rising economic uncertainty, analysts say. (joseph.hoppe@wsj.com)

Gold Edges Lower on Likely Technical Correction

2337 GMT — Gold edges lower in the early Asian session on a likely technical correction after gold futures settled nearly 1.7% higher last Friday. However, gold’s decline may be limited by rising expectations for Fed rate cuts that bolster the appeal of the nonyielding precious metal. The jobs data released Friday was “in no uncertain terms, a wake-up call,” says Fawad Razaqzada, market analyst at City Index and FOREX.com, in an email. “The Fed’s dual mandate includes employment, and this data screams weakness. The [Fed] doves are circling,” the analyst adds. Spot gold is down 0.1% at $3,356.81/oz. (ronnie.harui@wsj.com)