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Gold drops to immediate support-line as traders prefer USD on NFP day

From fxstreet.com

With the market sentiment in favor of the US Dollar (USD), gold prices tick down to short-term support-line near $1333 ahead of the European open on Friday. The reason could be the latest upbeat comments from the New York Fed President John Williams ahead of the key employment data for May month. Despite expectations suggesting the headline nonfarm payrolls (NFP) figures to be a bit down to 185K from 263K prior, traders kept supported the greenback. In case of politics, the White House talks to avoid Mexican tariffs failed while the US President Donald Trump kept tweeting in favor of the Fed’s rate cut while ... (full story)

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  • Category: Fundamental Analysis