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Gold Steady Below $1270 on Weak Jobs Data

Gold held steady above $1,260 an ounce on Monday, clinging to gains from the previous session on a disappointing U.S. non-farm payrolls report that pressured the dollar, with investors also eyeing developments in the Ukraine crisis.

Spot gold had eased slightly to $1,267.54 an ounce by 0030 GMT, following a 0.6 percent gain on Friday after data showed U.S. employers hired the fewest number of workers in eight months in August, providing a cautious Federal Reserve with more reasons to wait longer before raising interest rates.

But safe-haven gold logged a weekly decline as Ukraine and pro-Russian rebels agreed on a ceasefire, seen as the first step towards ending a conflict in eastern Ukraine. A weaker euro also hurt bullion.

CNBC [1]

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