US EditionGold eases below $4,300 as traders unwind post-NFP gains
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Gold eases below $4,300 as traders unwind post-NFP gains
Gold (XAU/USD) reverses its course on Tuesday after traders digested the latest US jobs report, which highlighted the labor market weakness and pushed the yellow metal towards a daily high at $4,335 before reversing course, losing 0.23% at the time of writing. XAU/USD trades at $4,296.
NFP Market Reactions: Stocks Open Timidly, Gold Rallies After NFP Report But Other Markets are Stuck - ActionForex
The Non-Farm Payrolls finally released, relatively on time, and came at a small beat on expectations (64K vs 40K expected) while the Unemployment rate grew from 4.4% to 4.6%. With downward revisions to the September data (-33K) and a -105K report for October, the labor picture is indeed softening as was highlighted by Fed’s Williams […] The post NFP Market Reactions: Stocks Open Timidly, Gold Rallies After NFP Report But Other Markets are Stuck …
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