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Gold consolidates ahead of U.S. data

Gold consolidates ahead of U.S. data
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Mubasher: Gold prices are trading in the sideways manner despite losses in the European equities, as investors prefer to stay on the sidelines ahead of the U.S. non-farm payrolls report.

Metal traders are ignoring the drop in the European stocks as the payrolls report due for release later today is widely touted as the one that shall make or break the probability of the Fed rate hike happening this year, FXstreet reported.

Accordingly, wild moves could be witnessed post the release of the NFP figure. The gold is trading largely unchanged in the day around $1124.30/Oz.