Gold Holds Drop as U.S. Jobs Data Brings Focus on Fed
Monday, 8 July 2019 13:16 WIB | PRECIOUS METALS |GOLDEMAS Spot Emas

Gold held a decline after Friday's U.S. jobs report showed hiring topped all economists' estimates, prompting investors to reassess the path of Federal Reserve rate cuts.

Nonfarm payrolls climbed a solid 224,000 last month, the most since January, after a disappointing 72,000 May advance, a Labor Department report showed. Next up comes Fed Chairman Jerome Powell's testimony to Congress starting Wednesday on monetary policy and the state of the U.S. economy. Minutes from the last Federal Open Market Committee meeting are also due for release Wednesday.

Spot gold little changed at $1,399.23/oz at 12:36pm in Singapore, after -1.2% on Friday. Prices -0.7% last week to snap six straight weeks of gains.

Source : Bloomberg

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