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Gold prices slip as dollar firms; c.bank meetings, U.S. data in focus

Gold bars arranged at the Korea Gold Exchange store in Seoul, South Korea, on Friday, Oct. 13, 2023. 

SeongJoon Cho | Bloomberg | Getty Images

Gold prices slipped on Monday as the dollar held firm, with investors looking forward to several major central bank meetings and U.S. inflation data release this week for more clarity on the interest rate trajectory.

Spot gold was down 0.3% at $1,997.16 per ounce, as of 0514 GMT. U.S. gold futures eased 0.1% at $2,013.20.

“Stronger jobs number on Friday caused a little bit of a reshaping of expectations for the Fed next year, providing a reprieve to the dollar and bond yields and that puts some downward pressure on gold,” KCM Trade chief market analyst Tim Waterer said.

The dollar rose 0.1% against its rivals, making gold more expensive for other currency holders.

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