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MKS: Jobs Data May Provide More Near-Term Headwinds For Gold
Tuesday, 8 August 2017 03:59 WIB | GOLD CORNER |

Gold is modestly softer and could see some more short-term pressure after the stronger-than-forecast rise of 209,000 in July U.S. nonfarm payrolls reported on Friday, says MKS (Switzerland) S.A.

Spot metal was trading down $2.15 to $1,256.25 an ounce as of 7:52 a.m. EDT.

˜˜With analysts increasing the odds of a December rate hike in the U.S. following Friday™s jobs report, we are likely to see bullion trade under pressure over the near term while the market seeks out further directional cues,™˜ says Sam Laughlin, senior trader of precious metals.

Source: Kitco

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POPULAR NEWS
Wall. St. Sees More Weakness In Gold Price; Main St. Leans Bullish

Wall Street looks for the recent slide in gold prices to continue, while the largest block of Main Street voters is bullish, according to the Kitco News weekly survey. Nineteen market professionals took part in the survey. There were 12 votes, or 63%, calling for gold prices to fall. There were four votes, or 21%, calling for gold to rise, while three voters, or 16%, look for a sideways market. Meanwhile, 642 voters responded in an online Main Street survey. A total of 280 respondents, or...

Gold books back-to-back loss to finish around 2018's lows

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Gold Holds Drop Amid Trade Tension; Powell Speech Eyed

Gold holds drop amid ongoing trade tensions and as investors await Federal Reserve Chairman Jerome Powell's speech later this week for further clues on the central bank's monetary policy path. Bullion for immediate delivery little changed at $1,243.55/oz at 9:27am in Singapore, after lost 0.3% Friday, according to Bloomberg generic pricing. This metal lost 0.9% last week. Bloomberg Dollar Spot Index flat after added 0.6% last week. œWhile the USD strength is...

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Oil prices dip as markets eye potential supply increases

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