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PRECIOUS-Gold steadies as rate hike bets recede, Fed minutes awaited

Fed minutes due on Wednesday Spot gold may rise to $1,813/oz - technicals (Updates prices) July 5 (Reuters) - Gold held firm below a two-week high on Monday, as concerns eased over an earlier-than-expected rate hike by the Federal Reserve after a mixed bag of U.S. jobs data, while focus shifted to minutes from the U.S. central bank’s June policy meeting. Higher interest rates translate into a reduced opportunity cost of holding bullion, which pays no interest. Spot gold was up 0.1% at $1,788.60 per ounce, as of 0649 GMT, after hitting its highest since June 18 at $1,794.86 on Friday. Most U.S. markets were closed on Monday for the Independence Day holiday.

PRECIOUS-Gold eases off two-week high as U S dollar firms

By Reuters Staff 2 Min Read July 5 (Reuters) - Gold prices edged lower on Monday after hitting a two-week high in the previous session, weighed down by a slight uptick in the dollar, while investors awaited more U.S. economic data for clues on the Federal Reserve’s monetary policy plans. FUNDAMENTALS Spot gold was down 0.1% to $1,785.41 per ounce by 0037 GMT, after hitting its highest since June 18 at $1,794.86 on Friday. U.S. gold futures rose 0.1% to $1,785.20. The dollar ticked up 0.1% against its rivals, making gold expensive for holders of other currencies. U.S. companies hired the most workers in 10 months in June, raising wages and offering incentives to entice millions of unemployed Americans sitting at home.

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