Gold Forecast: Gold futures closed higher for a third straight week while posting its best performance in seven as Treasury yields dropped to their lowest levels since February, dragging down the U.S. Dollar.
Gold Price: Gold futures are edging higher following the release of the June U.S. Non-Farm Payrolls report that came in above the consensus estimate, but below the whisper number.
Gold Price Analysis: Gold futures are inching higher early Tuesday, helped by a dip in U.S. Treasury yields and a pullback in the U.S. Dollar against a basket of major currencies. Meanwhile, trading is being dampened by general nervousness ahead of U.S.
Gold price are trading higher today after failing to follow-through to the downside following Friday’s sell-off. Sellers came in ready to pressure prices, but when buyers successfully defended last week’s low at $1761.20, shorts covered and the market turned positive for the session.
Gold Price Forecast: Gold price plunged over $100 last week, hitting their lowest level since April 29, after the U.S. Federal Reserve signaled it might raise interest rates sooner than expected. The news drove up U.S. Treasury yields and consequently the U.S. Dollar.
Oil Price Forecast: U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are trading higher on Monday after hitting a more than two year high earlier in the session.
Gold Forecast: On Thursday gold futures are under pressure as investors awaited the release of key U.S. inflation data that could influence the Federal Reserve’s monetary policy decisions at next week’s meeting. Firm Treasury yields and a stronger U.S. Dollar are also weighing on demand for the dollar-denominated asset.
Gold Price Today: Gold futures closed nearly 1% lower last week after a pair of U.S. labor market reports triggered a volatile two-sided response. The wicked price action was fueled by investor indecision over whether the jobs market was getting strong enough to warrant the discussion of early tapering of the U.S. Federal Reserve’s bond-buying program.
U.S. Dollar is at its highest level since May 14 early Friday as traders await the release of the May U.S. Non-Farm Payrolls report at 12:30 GMT. On Thursday, the dollar index was boosted by stronger-than-expected U.S. jobs data that suggested an improving labor market and reinforced signs that the world’s largest economy was on its way to recovery from the COVID-19 pandemic.
Gold Price Futures: Gold futures are trading flat early Thursday after posting a modest gain the previous session. Despite hitting a five-month high earlier in the week, the trade has been lackluster with some of the major players sitting on the sidelines ahead of Friday’s U.S. Non-Farm Payrolls report.