The price of gold collapsed at the beginning of the week!

thecekodok

 Gold prices slipped earlier in the week after the US NFP jobs data published showed the labor market remained strong in March.


During the Asian session, the yellow metal traded down around $1,990 per ounce, while gold futures were slightly lower at $2,004 per ounce.


Data released on Friday showed the US economy added 236,000 jobs in March compared to expectations for an increase of 228,000 jobs.



Meanwhile, the unemployment rate unexpectedly dropped to 3.5% from expectations to remain at 3.6% as recorded in February.


As a result of this issue, the market began to split against the Federal Reserve's (Fed) policy stance which was previously expected to stop its tightening.


Even so, it is still too early to place expectations on the Fed's decision since this week there will be US inflation data and the report of the minutes of the FOMC meeting will be published.

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