Gold holds above $2,607 but faces bearish risks as U.S. jobs data looms. Will key resistance at $2,667 break, or is a drop toward $2,538 next?
Gold consolidates within a tight range ahead of the Nonfarm Payrolls report, while the US Treasury yield and US dollar remain weak.
Gold edged higher in early Asian trade, ahead of the U.S. nonfarm payrolls report due later today.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
Treasury yields rise with jobless claims at 224,000. Bitcoin hits $100K, gold steadies, and DXY consolidates ahead of pivotal U.S. labor data.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
Fed's cautious tone impacts Gold (XAU) & Silver (XAG) as rising bond yields curb demand for precious metals.
Gold edged higher in early Asian trade. The precious metal's appeal as a safe-haven demand has been supported by the political turmoil in France and South Korea, ANZ Research said.
Anna Golubova is the Producer for Kitco News. With more than ten years of experience in media, she has covered a range of topics, focusing on economy and politics.