Ang ginto ay bumalik sa isang pangunahing lugar ng suporta pagkatapos ng mataas na data ng pagtatrabaho sa US
Gold pulls lower as US Nonfarm Payrolls increase above expectations in November. The Precious metal is testing recent lows amid a stronger US Dollar. Higher US yields are expected to support the Dollar and weigh on Gold. Gold price (XAU/USD) has been pulled lower ahead of Friday‘s European session opening, as the US Nonfarm Payrolls (NFP) report, beat expectations, which has cooled investors’ hopes that the Federal Reserve (FED) might stsar cutting rates ahead of schedule. Nonfarm employment increased in the US In November with 199,000 new jobs, following a 150,000 increase in October, and beating market expectations of a 180,000 reading. Beyond that, wage inflation accelerated at a 0.4% pace, from the 0.2% seen last month. These figures offset the impact of the US JOLTs openings and the ADP employment report seen earlier this week and cast doubt about the possibility that the Fed starts rolling back its tightening cycle in March. According to the CME Group Fed Watch tool, chances of a 25 bps cut in March have declined below the 50% level from 55% ahead of the data release. This is providing a fresh impulse to US Treasury yields and dragging the US Dollar higher. In a short while, the University of Michigan