Gold weaker below $ 1360, awaits NFP for fresh impetus

The yellow metal maintained the offered tone in the Asian session, extending its retreat from more than two-month peaks as markets get unnerved heading into the highly influential US payrolls data due later in the NA session.

Gold holds $ 1350 mark

Currently, gold trades -0.16% lower at $ 1358.57, having posted day’s high at 1361.97 and day’s low at 1354.54. Gold prices remain on the back foot as traders now await fresh insights on the Fed’s interest rates outlook on the release of the US employment data.

Moreover, gold continues to trade subdued, despite persisting risk-aversion and broad based US dollar retreat, after having rebounded on above estimates US ADP and jobless claims data.  Meanwhile, the US dollar tumbles -0.23% to fresh session lows of 96.11 levels.

Gold Technical Levels                                   

The metal has an immediate resistance at 1370 (round number) and 1375.17 (Jul 6 High). Meanwhile, the support stands at 1350 (Jul 7 Low) below which doors could open for 1341 (10-DMA).