Gold prices have taken a break after a sharp rally last week - gold soared from $1,137 oz on November 27 to all time high at $1,1226 on December 4, to retreat after upbeat U.S. employment figures, reaching levels at $1,135 oz low on Monday's European session, the Dollar, meanwhile, has soared across the board shrugging off previous weakness.
EUR/USD which has been rather correlated with Gold prices, reached 1.5141 high November 3, four pips short of 15-month high at 1.5145, and the pair dropped about 260 pips after U.S. NFP figures, reaching a session low at 1.4820, which has been broken today, with the Euro hitting a fresh one-month low at 1.4755.
AUD/USD, another gold-related cross, reached 0.9325 high on December 3, and the pair plunged on U.S. session from right below 0.9300 to 0.9110 low, to extend downwards on early European session, reaching 0.9050 low.
GBP/USD dropped on Friday from 1.6675 high on Friday to 1.6420 low on widespread Dollar strength after U.S. NFP figures were released, and the pair has weakened further on early European session to 1.6330 low.
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