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- The gold market is under pressure testing initial support at $2,300 an ounce as the U.S. labor market remains red hot.
The gold market is seeing some selling pressure following the latest employment data. June gold futures last traded at $2,302.80 an ounce, down 0.23% on the day. “The blockbuster 303,000 increase in non-farm payrolls in March supports the Fed’s position that the resilience of the economy means it can take its time with rate cuts, which might now not begin until the second half of this year,” he said in a note.
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