Observing news today one can easily get disappointed. However, things are getting better.
Gold heads south moderately in Asia as traders geared for Jackson Hole speeches
On Friday, gold slumped moderately in Asia, with financial markets braced for reacting to any signs on monetary policy from the Fed as well as ECB bank chiefs later in the day.
In New York, December delivery gold futures went down 0.01% reaching $1,291.94 a troy ounce.
Overnight, the major precious commodity stood still amid thin trading volumes. It’s because market participants waited for signs on monetary policy from a key banking symposium in Jackson Hall that burst out on Thursday.
Gold fluctuated in rather a narrow $6 range because market participants kept their powder dry ahead of decisive speeches by ECB Governor Mario Draghi as well as Fed Chair Janet Yellen.
Draghi isn’t supposed to provide much insight into the ECB’s view on monetary policy. However, market participants are supposed to parse Yellen’s statement to assess the Fed’s sentiment on a third rate lift later in 2017.
XAU/USD reversed down from the $1,700 area and dropped to $1,586 on March 12.
Oil market crashed after OPEC+ didn’t agree on production cuts. What’s next? Let’s see what bank analysts have to say about this.
WTI was at $20 per barrel just in the beginning of the day. Currently - above 25$.
27,000 people became unemployed in private sector
The US Non-farm payrolls, also known as NFP, will be published on April 3, at 15:30 MT time.