MTECHTIPS:-Gold Prices Down In Asia On Profit-Taking, Eye On Dollar \

MTECHTIPS:-Gold Prices Down In Asia On Profit-Taking, Eye On Dollar Weakness

MTECHTIPS- Gold prices fell in Asia on Monday on profit-taking and as investors keep an eye on the dollar for potential further weakness linked to a more gentle than expected rate hike path by the Fed in 2018 after disappointing jobs data last week. Gold futures for February delivery fell 0.11% to $1,320.70 a troy ounce on the Comex division of the New York Mercantile Exchange. Financial markets in Japan will remain closed for a holiday. Last week, gold prices edged lower in choppy trade on Friday as investors took profits after the metal’s rally to three-and-a-half month highs earlier in the week and as the dollar pushed higher despite a weaker-than-expected U.S. jobs report for December. For the week, the precious metal was still up 0.99%, its fourth consecutive weekly gain. The U.S. economy added 148,000 jobs in December, the Labor Department reported, well below the 190,000 forecast by economists, while the unemployment rate held steady at 4.1%. Employment data for October and November data were revised to show 9,000 fewer jobs created than previously reported. Earnings rose by an annualized 2.5% in December, as expected, but November’s wage growth was revised down to 2.4% from 2.5%. The dollar briefly slid to the day’s lows following the report, before regaining ground

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