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Gold prices steadied near a 2-1/2-month high on Monday after weaker-than-expected U.S. non-farm payrolls data drove expectations that the Federal Reserve may go slow on tapering economic support measures.

· Spot gold was little changed at $1,823.59 per ounce by 1128 GMT. On Friday, prices hit their highest since June 16 at $1,833.80. Trading is expected to be subdued on Monday, with most U.S. markets closed for a holiday.

· U.S. gold futures eased 0.4% to $1,826.30.

· Limiting gold’s upside, the dollar index rose 0.1% after falling to a one-month low in the last session.

· “The price action on Friday reinforces that gold’s upward momentum is waning,” Jeffrey Halley, senior market analyst, Asia Pacific at OANDA said.

“After the data, all gold could manage was a modest rally that never threatened the major resistance zone lying between $1830.00 and $1834.00,” Halley noted.

· Silver was steady at $24.70 per ounce after hitting a near one-month high on Monday.

· Treasury yields turn higher after poor August jobs report

The yield on the benchmark 10-year Treasury note gained about 3 basis points, trading near 1.322%.

· Dollar near one-month low on bets for later Fed taper

The dollar index, which measures the currency against six rivals, edged 0.05% higher to 92.155, after dipping to 91.941 for the first time since Aug. 4 on Friday, when a closely watched U.S. labor report came out much weaker than expected.

The greenback edged 0.1% higher to 109.79 yen, still meandering in the middle of its trading range of the past two months.

The euro was flat at $1.18775 after matching the highest level since June 29 at $1.1909 at the end of last week. The single currency has been supported by expectations the European Central Bank, which meets Thursday, is close to tapering its own stimulus program.

· Life after the ECB? The tapering debate begins

With the euro zone economy roaring back to life, the European Central Bank will debate a cut in its stimulus on Thursday, beginning a hard-fought and lengthy discussion on how to dismantle the crisis-fighting measures that have kept the bloc afloat.

The ECB has provided record monetary support for the euro zone since the start of the pandemic. But economic growth in the bloc is now solid, unemployment is falling and inflation is on the rise, setting the stage for a debate that will chart the bank’s course for years to come.

· Sterling slips on signs of stuttering economic momentum

IHS Markit’s construction Purchasing Managers’ Index (PMI) showed the UK construction industry grew last month at its weakest pace since the lockdown of early 2021, hit by a severe shortage of building supplies.

By 1500 GMT, sterling was down 0.3% at $1.38200, off the near one-month high of $1.38905 touched on Friday. Versus the euro, it likewise slipped to 85.82 pence, having risen to 85.595 pence on Friday.

· UK to extend Northern Ireland's Brexit grace periods

· Over 80% of oil output in Gulf of Mexico still offline a week after Ida

· Crude oil prices lower on demand concerns; WTI trades below $69 a barrel

The momentum indicator Relative Strength Index (RSI) is at 48.15, which indicates sideways movement in the prices.

West Texas Intermediate (WTI) crude fell 0.58 percent to $68.89 per barrel, while Brent crude, the London-based international benchmark, slipped 0.58 percent to $72.19 per barrel.

· China will improve opening up of capital market - securities regulator

China will improve domestic listing rules for overseas entities and will improve rules regulating overseas listings of Chinese companies, the securities regulator said on Monday.

The regulator said it would expand the channels for foreign capital to invest in China’s securities and futures markets. It will also step up monitoring of cross-border capital flows to maintain market stability.

· Some Chinese stocks briefly surge 30% as investors bet on a new Beijing exchange opening

Shares of more than 60 little-traded mainland Chinese stocks briefly surged by at least 10% Monday as investors bet on the companies’ potential inclusion in a new Beijing stock exchange.

· European stocks close higher as central bank tightening fears cool

European stocks closed higher on Monday after U.S. jobs data indicated the Federal Reserve may have to keep monetary policy loose for longer, while speculation has risen over more stimulus in Japan and China.

The pan-European Stoxx 600 provisionally closed up by 0.7%, with tech stocks adding 1.6% to lead gains as most sectors and major bourses entered positive territory.

· Stock futures open slightly higher after Dow slips following August jobs report

U.S. stock futures opened slightly higher Monday night after the Dow slipped from a record high on Friday before the three-day Labor Day weekend.

Dow Jones Industrial Average futures rose by 82 points, or 0.23%. S&P 500 and Nasdaq 100 futures climbed 0.21% and 0.31%, respectively.

No economic data is due out Tuesday. Later in the week, Mary Daly, president of the Federal Reserve Bank of San Francisco, is speak at a conference hosted by the Brookings Institute.

· The U.S. stock and bond markets closed on Monday, Sept. 6, in observance of Labor Day.

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