Gold steadies in cautious mood ahead of US jobs data by Reuters

Gold steadies in cautious mood ahead of US jobs data by Reuters
Gold steadies in cautious mood ahead of US jobs data by Reuters

© Reuters. 24 karat gold bars in a photo from the Reuters archive

(Reuters) – Gold settled on Thursday, as investors awaited U.S. jobs data, whose improvement will allow the Federal Reserve to begin tapering stimulus, a move one analyst predicted could drop the metal’s prices to $1,725.

There was little change in the record, which recorded $ 1763 an ounce (an ounce) by 0651 GMT, while US gold futures rose 0.1 percent to $ 1764.10 an ounce.

The US stabilized near its highest level in a year, supported by inflation concerns and expectations that the Federal Reserve will take urgent action towards normalizing politics, which also prevented gold from rising.

A rising dollar makes gold less attractive to holders of other currencies.

“Central banks are in a precarious position, watching inflation as it continues to rise,” said Stephen Innes, managing partner at SBI Asset Management. Central banks switch to raising interest rates.

US non-farm payrolls data on Friday is expected to show an improvement in the labor market, which is likely to prompt the central bank to start reducing support for the pandemic-related economy before the end of the year.

As for other precious metals, it rose in spot trading by 0.6 percent to $22.73 an ounce, and platinum settled at $984.69, and increased by 0.9 percent to $1,906.18.

(Prepared by Mahmoud Salama for the Arab Newsletter)

Explanation of the risks: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Gold steadies cautious mood ahead jobs data Reuters

For Latest Updates Follow us on Google News

PREV They gave him two “options to die.” A Lebanese immigrant stuck in a forest between Belarus and Poland
NEXT Rennes hires Salma Hayek – Lebanese Forces Official Website