Gold tacks on geopolitical risks
On Wednesday, gold prices rallied…
Gold relieves in Asia ahead of nonfarm payrolls
On Friday, gold slumped in Asia, with financial markets cautious enough ahead of nonfarm payrolls a bit later in the day.
In New York, December delivery gold futures sank 0.01% being worth $1277.97 a troy ounce.
Overnight, gold was roughly intact, underpinned by dollar weakness because market participants looked ahead to Trump's choice of nominee to become the next Fed Chair.
The number one precious commodity was on track just to snap a two-week losing marathon amid dollar weakness notwithstanding positive labor market data raising hopes for an upbeat nonfarm payrolls report due Friday.
As the US Department of Labor informed on Thursday, initial jobless claims went down 5,000 to a seasonally adjusted outcome of 229,000 by October 28, which is a steeper sag than economist had actually hoped for.
The Labor Department added that nonfarm productivity, measuring hourly output per worker, edged up at a 3% annualized rate, confounding experts’ forecasts of 2.4%.
Similar
Gold inches down against the backdrop of soaring futures on the American stock market
On Monday, gold headed south against the backdrop of strengthening futures on the American stock markets as well as a soaring greenback, which led to a decrease in demand for the number one precious commodity…
Gold drops amid relieving tension in trade relations
On Thursday, gold tumbled after the return of demand for risky assets…
Popular
ECB Meeting
Traders are impatiently waiting for the European Central Bank’s meeting on October 26…
CPI misses hopes weighing on Japanese yen
On Friday, the evergreen buck held strength in Asia because the Japanese yen was affected by weaker than anticipated prices data…
Gold jumps in Asia following deadly Manchester concert venue explosion
On Tuesday, gold rose in Asia, reacting to a deadly recent explosion at a concert venue in Manchester…
Deposit with your local payment systems
