GOLD BACK UNDER $1,750 AS DATA SHOW FLATENNING OF THE U.S. JOB LOSS CURVE….LIVE NEWS UPDATE BY ROYAL TRADERS

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Nearly 40 million U.S. jobs lost to the coronavirus pandemic suggests that gold prices should be up. 

But data on Thursday also showed a flattening of the curve in job losses, suggesting to some that the unemployment situation, while still bad, might also be improving. 

That, along with a rebound in the dollar index, pushed the yellow metal’s prices back beneath the $1,750 level critical to the confidence of gold bulls. This was despite stocks on Wall Street, the alternative trade to gold, headed for a lower close on concerns that U.S. recovery from the pandemic may take longer than thought. 

U.S. gold futures for June settled down $30.20, or 1.7%, at $1,721.90 per ounce, snapping a second-day rise that came after last week’s one-month high above $1,760. 

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