Gold Still Survives Despite USD Rage!

thecekodok

 Gold was less affected by the strengthening displayed by the US dollar and the US 10-year bond yield, seeing it remain stable in early week trading (Monday).


The yellow metal initially slipped lower to around $1,935 on Friday following a surge in the US dollar and bond yields after the US NFP data was released.


However, the yellow metal recovered to trade steady at $1,945 per ounce during the Asian session.


Even so, it is still too early to determine the movement of gold since today's market movement is expected to be slow following the holidays in the US and Canada.



The giant currency jumped sharply despite a dismal reading in August's NFP jobs data.


Although job growth was better than expected, the unemployment rate rose to 3.8% and income growth weakened.


In fact, revised employment figures for June and July also showed declines, signaling weakness in the US labor market.

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