- Gold price oscillates above $1,940.00 as investors await US NFP data.
- The US ADP Employment report suggests that the NFP report could show job creation is slowing.
- US ADP report also showed the slowest wage growth since October 2021.
Gold price (XAU/USD) finds nominal selling pressure as the Fed’s preferred inflation tool turns out persistent in July. Earlier, the yellow metal was trading sideways after a rally inspired by soft labor demand due to the deteriorating economic outlook. The precious metal is expected to remain on the sidelines as investors are likely to make an informed decision after the release of US Nonfarm Payrolls (NFP) data on Friday.
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