Gold futures retreat on rising risk-sentiment, though they remain higher on week. Futures are down 0.6% at $3,407.0 a troy ounce, though they remain up around 2.5% on week following Friday's weaker-than-expected U.S. jobs report.
The precious metal has come under pressure from a more stable dollar and improved risk appetite after Nonfarm Payroll data prompted an initial flight to safety, Exness analysts say in a note.
Still, gold could remain supported by increasingly dovish monetary policy expectations, Exness' Van Ha Trinh says in a note.
The disappointing data and significant downward revisions to previous months' figures have raised market hopes for three interest rate cuts this year, Trinh says. Lower rates typically boost non-interest bearing bullion's appeal.
Source: Marketwatch
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