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 prices inch down amid soaring US futures
On Tuesday, gold prices declined, losing some of their surge recorded at the last session. Futures on American stock markets pointed to surge after yesterday's sell-off, which reduced the demand for protective assets.
June delivery gold futures on a subdivision of the New York Mercantile Exchange, the Comex managed to acquire 0.42% coming up with $1341.1 per troy ounce.
On Monday, gold prices rose 1.44% amid worsening investor sentiment after the sale of technology companies, which led to a drop in quotations on Wall Street. Market participants are used to buying gold to save their money in times of political or economic instability.
The decline in the value of shares of technology companies in recent weeks has been associated with deep concerns about the misuse of user data by Facebook. Another factor of decline was the possibility of changing the tax regime for Amazon.
On Tuesday, American equities pointed out to a definite recovery at the opening generally neglecting a decline in stock markets in the European Union as well as Asia during night trading.
Investors are still apprehensive after China dared to impose extra duties on the import of some American goods. It led to increased disagreement between the two largest economies of the world and raised concerns about global economic growth.
It’s highly anticipated that this week the Trump administration is going to publish a list of Chinese goods, to which fresh duties are going to be imposed.
As for other metals, silver futures headed south 0.79% on the Comex demonstrating a reading of $16.54 per troy ounce. At the same time platinum futures managed to tack on 0.09% ending up with $937.30.
In addition to this copper futures inched up about 0.36% offering an outcome of $3,061 per pound.
The Organization of Petroleum Exporting Countries will hold a meeting on June 2.
This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?
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The United States will publish the Inflation Rate and Core Inflation Rate, also known as US CPI and Core CPI, on August 10 at 15:30 GMT+3.
The United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on August 5, 15:30 GMT+3.