Gold slumps in Asia as traders closely watch US nonfarm payrolls

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.



Latest news

Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera