Gold price holds near record highs on Monday, with XAU/USD changing hands at around $2,184 a troy ounce.
XAU/USD Current price: $2,178.93 A souring market mood and caution keep XAU/USD afloat on Monday. Investors await an update on the United States Consumer Price Index. XAU/USD consolidates gains, slight chance for a corrective slide. The bright metal hit $2,195.22 on Friday, as the US Dollar plunged following the release of the United States Nonfarm Payrolls report, indicating a healthy job creation level alongside a higher unemployment rate.
1% YoY, matching January's figure, while the core reading is expected to have eased to 3.7% from 3.9% previously. XAU/USD short-term technical outlook The XAU/USD pair daily chart shows that it holds on to modest gains, with the bullish run losing steam after advancing for nine days in a row. The pair is extremely overbought, although it may enter a consolidative phase instead of a corrective slide, as there are no signs of selling interest.
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