- Gold slides as DXY cleared 110.00 for the first time since November 2023.
- Traders trimmed Fed rate cut odds, after US jobs data, CPI eyed.
- XAU/USD sellers eye $2,650 and 100-day SMA near $2,630.
Gold price retreats during the North American session as traders seeking safety bought the Greenback as United States (US) Treasury bond yields rose to their highest level since November 2023. At the time of writing, the XAU/USD trades at $2,657 after failing to clear $2,700, down 1.20%.
A scarce economic docket on Monday keeps investors digesting the latest US Nonfarm Payrolls figures for December. Although the economy has fared better than expected, with figures rising by 256K exceeding forecasts of 160K and November’s 212K, traders are eyeing the release of US inflation data.
On Wednesday, the Consumer Price Index (CPI) for December will be announced, with…
