FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Gold prices edged slightly higher to $1920 an ounce on Friday, as dollar and bond yields declined following the latest labor report. The payrolls report showed US job growth slowed more than anticipated last month while the unemployment rate fell to 3.6% and wage growth was steady. Traders have fully priced in a 25bps increase in the fed funds rate this month but started to doubt that further hikes beyond July are necessary. Other major central banks including the ECB, the BoE, and the Bank of Canada are set to continue to tighten further. On the other hand, the Reserve Bank of Australia maintained its cash rate at 4.1% early this week.

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