The trend is decreasing, the current reasonable entry point
Gold prices rose after the release of weaker-than-expected US ADP jobs data.
Specifically, the US economy created 103,000 new jobs in November, much lower than the expected 130,000. The October figure was revised down to 106,000 from the previous estimate of 113,000.
These figures follow Tuesday's JOLTS US Job Openings survey, adding to evidence that restrictive monetary policy is starting to weigh on demand for workers.
On the other hand, the US ISM services PMI showed a larger-than-expected improvement, helping to negate a sharp slowdown in the US economy.
CME Group's FedWatch tool is pricing in a more than 50% chance that the US central bank will cut its benchmark interest rate by 25 basis points in March.
The market is in a moderately positive mood as investors grow increasingly confident that the major central bank tightening cycle is over.
Specifically, the US economy created 103,000 new jobs in November, much lower than the expected 130,000. The October figure was revised down to 106,000 from the previous estimate of 113,000.
These figures follow Tuesday's JOLTS US Job Openings survey, adding to evidence that restrictive monetary policy is starting to weigh on demand for workers.
On the other hand, the US ISM services PMI showed a larger-than-expected improvement, helping to negate a sharp slowdown in the US economy.
CME Group's FedWatch tool is pricing in a more than 50% chance that the US central bank will cut its benchmark interest rate by 25 basis points in March.
The market is in a moderately positive mood as investors grow increasingly confident that the major central bank tightening cycle is over.
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