Observing news today one can easily get disappointed. However, things are getting better.
Gold slides in Asia as regional data backs surge views
On Thursday, gold went down in Asia, with a bunch of regional data backing market sentiment as well as a focus shifting to the expected battle just to get a tax cut passed in America, which would likely have a knock-on effect on the Fed’s policy if successful.
December delivery gold futures sank 0.52% in New York being worth $1,307.27 a troy ounce.
In Japan, July’s provisional industrial output data declined 0.8%, which is more than a 0.5% sag expected.
In China, the official manufacturing Purchasing Managers' Index hit 51.7 in August, surpassing hopes, as data published on Thursday demonstrated.
Overnight, gold declined from an eleventh-month maximum, reacting to a rebound in the greenback, after a couple of better-than-expected reports on private job creation as well as economic surge raised hopes of a rate lift later in 2017.
August’s ADP employment data estimated private-sector payrolls grew by 237,000 versus consensus estimates of about 185,000.
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.