Mumbai, Feb. 5 -- Gold prices came under pressure in early Asia on Monday as dollar strengthened following US jobs data that came in better than expected and further reduced bets of a near term Federal rate cut. US Nonfarm Payrolls surged to 353K in January from an upwardly revised 333K in December. The Unemployment Rate was unchanged at 3.7%. The dollar index added massive gains following the report and climbed above 104 mark for the first time in eight weeks and is currently quoting near the levels at 103.93. Meanwhile, COMEX gold futures are seen trading at $2049.80 an ounce, down 0.2% on the day.
Published by HT Digital Content Services with permission from Capital Market....