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XAU/USD loses ground to near $3,350, weaker US jobs data might cap downside

From fxstreet.com

The Gold price (XAU/USD) edges lower to around $3,360, snapping the two-day winning streak during the early Asian session on Monday. Nonetheless, weak US job data and tariff fears might weigh on the US Dollar (USD) and help limit the USD-denominated commodity’s losses. The yellow metal loses traction due to the rebound in the Greenback. The potential upside for Gold might be limited as an underwhelming US Nonfarm Payrolls (NFP) data boosted expectations of a Federal Reserve (Fed) rate cut. The US NFP rose by 73,000 in July, versus a 14,000 increase (revised from 147,000) prior, the US Bureau of Labor Statistics (BLS) ... (full story)

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  • Category: Fundamental Analysis