XAU/USD holds above $2,000, investors await US CPI data
Berita Bitcoin Ethereum Gold price posts modest gains around $2,005 despite the upbeat US labor data. US Nonfarm Payrolls (NFP) rose by 199K in November vs. 150K prior, Unemployment Rate declined to 3.7% from 3.9%. Both the Chinese Consumer Price Index (CPI) and Producer Price Index (PPI) came in worse than expected. Traders await the US Consumer Price Index (CPI) data on Tuesday ahead of the FOMC meeting. Gold price (XAU/USD) recovers its recent losses during the early Asian trading hours on Monday. The unexpectedly upbeat US labor market boosts the US Treasury yields climbing and diminishes investors appetite for the yellow metal. However, the yellow metal attracts some buyers as it finds support near the two-week low of $1,995. Gold price currently trades near $2,005, up 0.14% on the day. On Friday, the highly-anticipated US Nonfarm Payrolls (NFP) rose by 199K in November from the previous reading of 150K. Additionally, the Unemployment Rate declined to 3.7% from 3.9% in the previous reading. Average Hourly Earnings held steady at 4.0%, matching market expectations. Finally, the preliminary University of Michigan Consumer Sentiment Index for December came in at 69.4 versus 61.3 prior. In response to the data, the US Dollar Index (DXY) rose to 104.25 and the US