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Gold moves little after worst week in 7 months, Powell talk awaited
Gold prices were muted on Monday after logging their worst week in seven months, with focus now turning to a discussion with Federal Reserve Chair Jerome Powell after stronger-than-expected U.S. employment data ramped up fears of more monetary tightening. Gold prices plummeted 2.5% on Friday and lost over 3% last week after labor data showed that U.S. employment remained far stronger than expected in January. The readings spurred fears that the Fed has enough economic headroom to keep raising interest rates, and drove a recovery rally in the dollar and Treasury yields. This weighed on most metal prices, with gold- ... (full story)