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Gold Holds Weekly Gain as Dollar Extends Drop on Risk Sentiment

  • There are signs Fed hikes may not be as aggressive as feared
  • Investors focused on upcoming data, such as US jobs report
Updated on

Gold edged higher to build on last week’s advance as the dollar declined amid buoyant risk sentiment in other markets.

European stocks and US futures gained on Monday after China relaxed some of the strictest virus controls of the pandemic. The greenback retreated as demand for the haven currency diminished. That supports bullion, which is priced in dollars.