Gold price has faced barricades at around $1,870.00 amid anxiety over the US NFP.
Lower ADP Employment Change numbers are advocating a vulnerable performance from the US NFP.
The DXY has slipped below 101.70 on positive market sentiment.
Gold price (XAU/USD) is displaying a lackluster performance in the Asian session as investors are awaiting the release of the US Nonfarm Payrolls (NFP). A downward shift in the Automatic Data Processing (ADP) Employment Change has triggered anxiety over the NFP figures.
The ADP Research Institute has reported addition of 128k jobs in the labor market, significantly lower than the estimates of 300k. It is worth noting that the US labor market is at its peak levels and employment generation may get slower amid less room for growth. Therefore, investors should brace for a slower job growth rate. As per the market consensus, the US NFP is seen at 325k