The US Payrolls Bring New Hope for Gold
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 tacks on in Asia on geopolitics
On Monday, gold managed to tack on in Asia because North Korea shocked financial markets with a statement that its recent missile test was quite capable of carrying a huge nuclear warhead and market participants were also concerned with the potential spread of cyberattacks, which have already hit up to 200,000 victims in 150 countries.
In New York, June delivery gold futures inched up 0.20%, being worth $1,230.20 a troy ounce. Meanwhile, copper futures surged too, showing a 0.16% ascend and trading at $2.532 a pound notwithstanding poor industrial output data from China.
China posted industrial production inched up a less than expected 6.5%, thus missing a 7.5% profit observed. Additionally, China informed that in April retail sales added 10% on year, which is more than the 10% observed, while fixed-asset investment soared 8.9%, which is below the 9.1% expected.
The previous week, gold prices grew on Friday. It’s because the weaker greenback underpinned demand for the number one precious metal.
Similar
The OPEC Meeting May Push Oil to $150
The Organization of Petroleum Exporting Countries will hold a meeting on June 2.
Russian Oil Got Banned from Market
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?
Latest news
The Yen Sets New Lows
The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!
Experts are Waiting for US Stocks to Rise
The US stock market fell in the third quarter. What's going on and why economists think that the last quarter will be better? Let's discuss it all here.
BlackRock CEO Supports The USD
BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!
