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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