The U.S. NFP labor report eases expectations of a Fed rate cut, pushing gold prices lower.
The USD gets a boost from the easing tensions between the U.S. and China and the better U.S. employment data on Friday, limiting gold's gains.
Gold prices are extending losses against the U.S. Dollar (USD) on Friday, falling below the previous psychological support, now resistance, at $3,350, after the U.S. Non-Farm Payrolls (NFP) report showed a resilient labor market.
After a week of data suggesting a weakening U.S. labor market, the May Non-Farm Payrolls (NFP) report surprised to the upside. The U.S. economy added 139,000 new jobs, exceeding analysts' expectations of an increase of 130,000.
