Shafaq News/ Gold prices slipped on Monday to retreat from a three-week high scaled in the previous session, as the U.S. dollar regained some ground, making bullion more expensive for overseas buyers.
FUNDAMENTALS
* Spot gold XAU= was down 0.5% at $1,672.30 per ounce, as of 0025 GMT. Bullion prices surged 3% on Friday as the dollar fell nearly 2% after U.S. jobs data raised hopes about the U.S. Federal Reserve being less aggressive on rate hikes going forward.
* U.S. gold futures GCv1 were flat at $1,676.10.
* The dollar index .DXY reclaimed some lost ground to edge up 0.1%.
* U.S. job growth increased more than expected in October, but the pace is slowing and the unemployment rate rose to 3.7%, suggesting some loosening in labour market conditions.
* Four Fed policymakers on Friday indicated they would still consider a smaller interest rate hike at their next policy meeting, despite new data showing another month of robust job gains and only small signs of progress in lowering inflation.
* Physical gold demand in India eased last week with jewellers awaiting a dip in domestic prices to stock up for the wedding season following a festival rush.
* Spot silver XAG= was down 1.6% at $20.49, platinum XPT= fell 1.4% to $947.40 and palladium XPD= lost 0.2% to$1,859.15.
