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US job data, Fed meeting in focus




Gold prices rose to a week's peak on Monday when the dollar edge fell, while investors waited for minutes from the US Federal Reserve's March meeting later this week.

Spot gold increased by 0.4 percent to $ 1,295.81 per ounce by 0358 GMT, having hit a season high of $ 1,296.69 earlier.

US gold futures were also up 0.4 percent at $ 1,300.10 an ounce.

"The Dollar Index is withdrawing from several weeks highs," says Margaret Yang, market analyst with CMC Markets, Singapore, adding that a softer dollar served as a gold scam.

"Although the non-farm payrolls data was better than expected, the production job, which is a bad signal for the sector, did not show a clear picture of the economic outlook."

The dollar was down 0.1[ads1] percent against key rivals, making the gold price cheaper for holders of other currencies.

Although employment growth increased from a 17-month low in March, data on Friday showed a decline in wage growth and industrial reductions, the first decline in factory wages since July 2017.

The moderation of wage growth supported the Fed's decision to to suspend further interest rate increases this year.

Lower interest rates reduce the ability to hold the non-yielding bull Rent.

The markets are now awaiting the protocols of the Federal Open Market Committees (FOMC) March policy meeting, due to Wednesday, for indications of Fed's future monetary policy stance.

Capping Bullion's gains were strong Asian stocks, which rose to seven-month highs as investors cheered a rise in US wages and hints of more stimulus in China.

Gold had gone to its lowest since January 25 to $ 1,280.59 last week, mainly pushed by rising stocks of optimism around the Sino-US trade deal.

US and Chinese dealers are planning to resume discussions this week to try to secure a pact to end that year's long-term tariff fight.

A stock market rally has led investors to enjoy the gold in v

says analysts.

Hedge funds and money managers slashed their bullish bets in COMEX gold this week until April 2, said the US Commodity Futures Trading Commission (CFTC) Friday.

Holdings in the world's largest gold-treated listed fund, the SPDR Gold Trust, also fell as much as 3 percent last week, the largest weekly percentage decline since late November 2016.

Among other precious metals, platinum was in place at 1 , 1 percent at $ 904.44 per ounce, having affected its more than ten-month high of $ 912.90 earlier in the session.

Palladium rose 0.7 percent to $ 1,378.96 and silver increased 0.5 percent to $ 15.15.



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