Gold’s rally gets booster shot as Trump picks doves for the Fed

Gold resumed its rally above $1 400/oz on a cocktail of positive drivers, with weak data feeding expectations for fresh easing from central banks, Treasury yields hitting a two-year low, and the US President seeking to reshape the Federal Reserve board with two picks seen as doves. Bullion extended the biggest one-day gain in three years as concern over slowing growth ticked up, and investors will focus next on data for US private hiring, factory orders and the services sector, which come on Wednesday. The jobs report for June on Friday will also be key in providing signals on the possible timing and scale of looser monetary policy by the Fed.