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* Specs minimize gold bullish positions in week ended Aug 4 - CFTC * Japan, Singapore markets closed for public holidays * Interactive graphic monitoring international unfold of coronavirus: open tmsnrt.rs/3aIRuz7 in an exterior browser (Updates costs) By Brijesh Patel Aug 10 (Reuters) - Gold costs fell on Monday because the greenback held onto good points made after better-than-expected U.S. payrolls information, whereas buyers stored an in depth eye on Sino-U.S. relations forward of scheduled commerce talks. Spot gold was down 0.3% at $2,029.19 per ounce by 0701 GMT. U.S. gold futures rose 0.6% to $2,039.60. Japanese and Singapore markets have been closed for public holidays. Gold hit a report excessive of $2,072.50 on Friday earlier than retreating practically 2% because the greenback bounced on information displaying U.S. nonfarm payrolls elevated by 1.763 million jobs in July. "The stronger greenback narrative is weighing on buyers' selections, together with the truth that individuals can be extra (inclined) to profit-taking after such a giant run-up," stated Stephen Innes, chief market strategist at monetary companies agency AxiCorp. "A correction may be very attainable right here. It actually will depend on how market views the general greenback, with U.S.-China commerce escalation kind of beneficial to the greenback." The greenback has, every now and then, been the favoured protected haven amid flare-ups in tensions between Washington and Beijing. Final week, U.S. President Donald Trump took steps to ban two common Chinese language apps. "There may be room right here for individuals to unwind a few of their gold publicity," stated DailyFx forex strategist Ilya Spivak, since it seems the U.S. Federal Reserve may begin "to take their foot off the fuel" on aggressive stimulus after current higher financial information. Speculators decreased their bullish positions in COMEX gold and silver contracts within the week to Aug. 4. However gold's attraction as a protected haven has been underpinned by the uncertainty pushed by the COVID-19 pandemic, with resultant widespread international stimulus additionally fuelling considerations of inflation. In america, which has marked a grim milestone of 5 million circumstances, Trump signed government orders on Saturday partly restoring enhanced unemployment funds to thousands and thousands of Individuals. Silver gained 0.2% to $28.33 per ounce, platinum rose 1% to $970.86 and palladium was regular at $2,177.08. (Reporting by Brijesh Patel in Bengaluru; Enhancing by Subhranshu Sahu and Aditya Soni)
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