Observing news today one can easily get disappointed. However, things are getting better.
Gold slumps in Asia as traders closely watch US nonfarm payrolls
On Friday, gold went down in Asia because market participants waited for nonfarm payrolls in America even although the data will be probably weakened by the effects of hurricanes in Florida and Texas.
December delivery gold futures sank 0.13% being worth $1,271.51 a troy ounce.
Overnight, the number one precious commodity traded below breakeven because a bunch of better-than anticipated economic reports pointed to firm American economic surge, thus backing a move higher in the greenback.
A jump in the US currency on clues that the American economy is strengthening suppressed gold that found itself on track for a fourth weekly loss before a nonfarm payrolls due Friday.
On Thursday, the US Department of Labor informed that by September 30 initial jobless claims inched down 12,000 to a seasonally adjusted 60,000, thus surpassing predictions of a 7,000 dip.
In August, the US trade deficit slumped to $42.4 billion, losing $1.2 billion versus July’s reading.
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.