Comments on Gold After the US data

The average hourly number was strong and this means the Fed goes steady from here. Remember the Fed is data dependent and if the data doesn’t show any weakness and it isn't in the overheating stage, it is difficult to stop the dollar bulls. However, the unemployment number went up, so overall, the data is still somewhat mixed. Thus, we don’t think that the gold price is going to fall and the initial sell-off action is already fading.

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