The US Payrolls Bring New Hope for Gold
The Us Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on June 3, 15:30 MT time (GMT+3).
Gold jumps in Asia on easy liquidity views
On Friday, gold rallied moderately in Asia because traders digested a triple load of major bank view from the Federal Reserve, BoE and ECB, which pointed to ongoing easy liquidity.
February delivery gold futures soared 0.02% in New York being worth $1,257.40 a troy ounce.
Overnight, the number one precious metal traded close to session maximums, neglecting a rebound in the evergreen buck as the European Central Bank told it would keep pursuing its ultra-accommodative monetary policy measures.
On Thursday, the ECB left its benchmark rate intact, repeating its firm commitment to running an asset-purchase stimulus program until next September.
On Wednesday, gold managed to reverse a two-day drop versus the backdrop of a widely anticipated Fed rate lift and an intact outlook on the path of monetary policy tightening, including up to three rate hikes expected next year.
Meanwhile, silver futures added 0.45% hitting $15.94 a troy ounce, platinum futures tacked on 0.80% being worth $882.40.
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Increased Volatility is Coming
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
Market Crash Incoming?
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
What Currency Will Overperform?
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
