XAU/USD consolidates above the 1,940 mark amid the US holiday
Nouvelles Bitcoin Ethereum Gold price remains flat around $1,940 following the volatility session. The US Unemployment Rate rose to 3.8%; Nonfarm payrolls were 187k, better than expected. The US Manufacturing PMI came in at 47.6 versus 46.4 prior and higher than anticipated at 47.0. Gold price (XAU/USD) is currently in consolidation mode around $1,940 during the early Asian session on Monday. The US market is closed for the Labor Day holiday and gold price is expected to remain under pressure amid the thin trading volume. Later this week, the US ISM Services PMI for August will be released and the data will likely ramp up volatility. On Friday, gold price surged above the key resistance level of $1,950 and then reversed its direction to $1,934 after the release of US ISM Manufacturing PMI data for August. The US Bureau of Labor Statistics revealed that Nonfarm Payrolls (NFP) for August came in at 187,000, better than expected at 170,000 and Julys reading of 157,000. The Unemployment Rate improved sharply to 3.8% versus the market consensus and the previous reading of 3.5%. The Average Hourly Earning rose by 0.2% MoM, worse than expectations of 0.3%. Additionally, the Institute for Supply Management (ISM) showed on Friday that the US









