Gold Down on Strong US Employment Data

Posted By: Religare
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    Gold futures closed lower in the international market on Wednesday after a reading of private-sector employment came in stronger than expected, steering buying to assets perceived as risky such as stocks.

    Gold Down on Strong US Employment Data

    Also, the minutes indicated that the Fed is likely to start shrinking its balance sheet this year in line with its tighter monetary-policy regime. Higher rates tend to strengthen the dollar which in turn makes assets priced in the U.S. currency more expensive.

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