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Gold drops to one-week low as Fed rate cut hopes wane

Gold drops to one-week low as Fed rate cut hopes wane

Feb 5 (Reuters) - Gold prices slipped to a one-week low on Monday after a robust U.S. jobs data last week and remarks from Federal Reserve Chair Jerome Powell dented hopes for early rate cuts, lifting the dollar and bond yields higher.
 
Spot gold was down 0.6% at $2,025.99 per ounce by 1214 GMT, hitting its lowest since Jan. 29. U.S. gold futures fell 0.6% to $2,042.60 per ounce...[LINK]
 
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