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Gold slips as firmer dollar offsets bets on Fed pause
Gold prices slipped on Monday as the dollar firmed after a strong U.S. payrolls report, overshadowing support from prospects that the Federal Reserve would pause its rate hikes this month. Spot gold was down 0.4% at $1,939.19 per ounce, as of 0803 GMT, hovering near its lowest levels since May 30. U.S. gold futures shed 0.8% to $1,954.40. Gold prices dropped more than 1% on Friday after data showed U.S. nonfarm payrolls rose by 339,000 jobs last month, exceeding a 190,000 forecast by economists polled by Reuters. But the unemployment rate surged to a seven-month high of 3.7% from a 53-year low of 3.4% in April. The ... (full story)