INFO@GOLDUNI.COMAN EDUCATION IN GOLD INVESTMENT

Weaker US Jobs Data Causes Slight Spot Gold Jump

Home / NEWS / Weaker US Jobs Data Causes Slight Spot Gold Jump
Spot gold showed a slight recovery from its lowest point in nearly three months as weak U.S. job data fueled fears about the economy. However, the yellow metal still faces obstacles.

According to Reuters:

The metal is under pressure as the euro languishes near a 14-month low versus the dollar on Friday, struggling to regain its footing after the European Central Bank delivered a fresh round of stimulus and promised even more if needed. A stronger greenback is a setback for dollar-denominated gold as it makes the metal more expensive for users of other currencies.

Victor Thianpiriya, an analyst at ANZ, said:

The key U.S. payrolls release is expected to be a strong print which may prompt further selling in gold late in the day in today’s session.

Click here to read the full article

Recent Posts

Leave a Comment