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 trades weaker in Asia
On Tuesday, gold came off recent revenues in Asia, with market participants alert to probable comments by American Vice President Mike Pence, scheduled in Tokyo for negotiations with Japan's leadership, including on ongoing tension on the Korean peninsula.
In New York, June delivery gold futures dipped 0.61%, trading at $1,284.00 a troy ounce. As for copper futures, they were last quoted down 0.39%, showing $2.587 a pound.
Overnight, gold prices soared, as market participants kept backing the number one precious metal amid geopolitical worries, while downbeat economic data powered market sentiment.
Gold futures made a decent start to the week, notching a five month peak earlier during the trading session, as market participants kept pouring into safe assets, including gold amid soaring geopolitical worries.
Geopolitical tensions over North Korea rose, after on Sunday North Korea tried to fire a ballistic missile, though it exploded almost immediately. By the way, North Korea kept conducting missile tests notwithstanding renewed efforts by China to convince North Korea to change course.
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
What Currency Will Overperform?
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
Investor Positivity May Fade After Powell's Speech and CPI Release
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
What Can Rule the Roost in January 2023?
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
