XAU/USD: Final NFP before Election
Americans continue to rank the economy as their top issue, and the final Non-Farm Payrolls (NFP) report before voting day, offers a crucial signal this coming Friday.
September saw a gain of 254,000 jobs, but forecasts point to a marked slowdown, with expectations hovering just above the 100,000 mark. The expected downturn stems from several factors, including back-to-back hurricanes disrupting the Southeast of the country.
For now, gold is trading below Friday’s close (but for how much longer?) as markets react to limited Israeli action against Iran. Tehran has indicated it won’t retaliate, easing geopolitical tension and potentially reducing demand for the haven asset.
September saw a gain of 254,000 jobs, but forecasts point to a marked slowdown, with expectations hovering just above the 100,000 mark. The expected downturn stems from several factors, including back-to-back hurricanes disrupting the Southeast of the country.
For now, gold is trading below Friday’s close (but for how much longer?) as markets react to limited Israeli action against Iran. Tehran has indicated it won’t retaliate, easing geopolitical tension and potentially reducing demand for the haven asset.
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