The relationship between the US Non-Farm Payroll (NFP) figure and gold's position is becoming more complicated as the data drives the US (US) labor market continues to support the economy and the US dollar currency.
At 9.10 am, gold prices were at $2,681.57, down 0.28% since it opened in early trading on Monday in the Asian session.
The NFP data showed strong job growth and it signals a strong economy and causes investors to expect that the Federal Reserve (Fed) may limit policy easing.
High rates usually make gold less attractive and other investments such as the US 10-year bond more attractive.
In addition, the labor report also increased confidence in the US dollar due to the support of the US Dollar Index (DXY) which caused gold prices to fall.
However, strong economic data can cause central banks to raise interest rates to fight inflation.
