Mumbai, Feb. 12 -- Gold prices lost steam and slipped below $5100 per ounce in the Asia electronic trades, with the metal seen consolidating in a narrow range after hitting historical highs of $ 5626.8 on January 29th. The counter trimmed yesterday's gains as investors pared back expectations for Federal Reserve policy easing. Strength in the US dollar post stronger-than-expected US labor market data that reduced the likelihood of near-term Federal Reserve rate cuts also pulled the yellow metal lower today. Data released Wednesday showed nonfarm payrolls increased by 130,000 in January, the largest gain in more than a year, while the unemployment rate unexpectedly declined to 4.3%. MCX April 2 delivery futures were down 0.3% at Rs 158211 pe...
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