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Gold Dips as Dollar Holds Firm; US Jobs Data Awaited


Thursday, 2 April 2020 16:11 WIB

GOLDEMAS


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Gold prices dipped on Thursday as the dollar held firm, while investors awaited key U.S. jobless data amid mounting signs of a recession due to the worsening coronavirus outbreak.

Spot gold fell 0.3% to $1,586.24 per ounce by 0640 GMT, after rising 1.2% on Wednesday. U.S. gold futures rose 0.6% to $1,600.20 per ounce.

The metal “is primarily in a consolidation phase more than anything else and is not likely to move much until U.S. jobs data comes in,” said Avtar Sandu, a senior commodities manager at Phillip Futures, adding that the dollar weighed on the market.

Source : Reuters


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