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On Friday, gold slumped in Asia, with financial markets cautious enough ahead of nonfarm payrolls a bit later in the day.
In New York, December delivery gold futures sank 0.01% being worth $1277.97 a troy ounce.
Overnight, gold was roughly intact, underpinned by dollar weakness because market participants looked ahead to Trump's choice of nominee to become the next Fed Chair.
The number one precious commodity was on track just to snap a two-week losing marathon amid dollar weakness notwithstanding positive labor market data raising hopes for an upbeat nonfarm payrolls report due Friday.
As the US Department of Labor informed on Thursday, initial jobless claims went down 5,000 to a seasonally adjusted outcome of 229,000 by October 28, which is a steeper sag than economist had actually hoped for.
The Labor Department added that nonfarm productivity, measuring hourly output per worker, edged up at a 3% annualized rate, confounding experts’ forecasts of 2.4%.
This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?
US Energy Information Administration will reveal Crude oil inventories on February 9, 17:30 GMT+2.
On Wednesday, February 2, during the day, members of the Organization of Petroleum Exporting Countries (OPEC) and Joint Ministerial Monitoring Committee (JMMC) will discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
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