Gold Slips as Strong Dollar Offsets US Jobs Data
Gold prices eased slightly on Monday as the US dollar firmed up. However, losses remained limited following soft economic data that reduced Federal Reserve rate hike expectations for October.
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Gold fell 0.3% to $4,131.61 per ounce during Monday morning trading as the United States dollar strengthened. The decline follows soft economic data that reduced expectations for Federal Reserve rate hikes. Investors are balancing slowing labor market growth against a resilient broader monetary tightening cycle.
