Gold wipes out most of the profit
The US dollar rose again
US NFP employment data is the focus
Gold prices again traded lower on Friday after plunging amid a strengthening US dollar ahead of the release of US NFP jobs data.
In the Asian session, the yellow metal traded weakly at around $1,918 an ounce, down well from a new 9-month high it hit on Thursday at $1,959 an ounce.
The king of the US dollar bounced back from its lowest level recorded following the FOMC policy meeting which saw the Federal Reserve (Fed) shift to a dovish stance.
This sent the price of gold back down, erasing most of its previous gains.
In the meantime, analysts see this decline as likely due to some profit-taking by gold investors ahead of the release of US jobs data today.
The US economy is expected to add 193,000 jobs in January, down from 223,000 jobs recorded previously, while the unemployment rate rose to 3.6%.
