Gold Prices Firm as Dollar Weakens on Slower U.S. Job Growth
Cập nhật
On Monday, gold prices strengthened as the dollar and bond yields retreated from their recent highs due to lower-than-anticipated U.S. job growth data. Investors are preparing for a crucial inflation assessment this week, which could impact the direction of the Federal Reserve's policies.
XAUUSD BUY 1942 - 1940 🔥🔥
TP1 ✔️ 1945
TP2 ✔️ 1950
SL ❌ 1936
XAUUSD BUY 1942 - 1940 🔥🔥TP1 ✔️ 1945
TP2 ✔️ 1950
SL ❌ 1936
Bình luận
At 0130 GMT, spot gold maintained its stability at $1,942.33 per ounce, recovering from the previous session's three-week low. Concurrently, U.S. gold futures experienced a 0.1% increase, reaching $1,977.20.Bình luận
Following the Labor Department's employment report on Friday, which indicated that the U.S. economy added fewer jobs than anticipated in July, the U.S. dollar index (DXY) declined, and benchmark 10-year Treasury yields retreated from their November peak.Bình luận
The additional proof of a cooling labor market further supports the argument that the recent interest rate increase by the U.S. central bank might mark the conclusion of its ongoing cycle of tightening.Bình luận
The upcoming release of U.S. consumer price data on Wednesday will take center stage as analysts evaluate whether additional rate hikes are necessary to address the inflationary pressures.Bình luận
* Non-yielding gold is frequently pursued as a secure investment to hedge against inflation; however, its appeal diminishes as interest rates climb.Bình luận
The European Central Bank stated on Friday that underlying inflation in the euro zone has most likely reached its highest point, indicating a deceleration in other price increases as well.Bình luận
Last week, premiums on physical gold in China reached a nearly five-month high due to robust retail demand in the leading consumer market. Simultaneously, a depreciating rupee mitigated the effects of declining local prices in India.Bình luận
Market participants also assessed the labor department's data, which revealed substantial wage increases and a decrease in the unemployment rate, indicating a sustained state of tightness in labor market conditions.Bình luận
Describing the job report as predominantly varied, Yeap Jun Rong, a market strategist at IG, remarked that the diminishing job growth offers a rationale for the Fed to maintain current interest rates. However, the ongoing wage pressure stemming from labor market tightness indicates that investors should remain vigilant about potential inflation risks in the future.Bình luận
Anticipating a potential uptick, gold and silver prices are predicted to rise in the upcoming month. Edward Meir, a metals analyst affiliated with Marex, noted in a monthly report that this projection stems from the possibility of a moderate retreat in the U.S. dollar and interest rates leading up to the September Federal Reserve meeting.Bình luận
On Monday, gold prices experienced a decline due to the ascent of the U.S. dollar in anticipation of this week's U.S. inflation data. Nevertheless, bullion managed to recover from three-week lows following the moderation in U.S. job growth, which subsequently exerted downward pressure on bond yields from their recent peaks.
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.