Gold Slips Before US Payrolls Data, Set for Second Weekly Loss
- Gold prices were little changed Friday but were headed for a second consecutive weekly decline, with spot gold down more than 2% for the week.
- A stronger U.S. dollar and higher Treasury yields pressured gold, while investors awaited nonfarm payrolls data for clues about Federal Reserve interest-rate decisions.
- Traders saw roughly a one-in-four chance of a rate hike this month and about an 80% chance of an increase in December.
- Silver, platinum, and palladium rose Friday but remained on track for weekly losses, while sources said Iran was preparing a stronger response if the United States resumed large-scale attacks.
21 Articles
21 Articles
Gold prices remain under pressure ahead of US employment data. The data is expected to give new signals that could affect the Fed's expectations for interest rate policy and the short-term direction of gold. Will the price of the coin go down or rise? Here are all the details...
Gold steadies before US payrolls data, set for second weekly loss
Gold steadied on Friday but remained on track for a second straight weekly decline, pressured by a firmer US dollar and elevated Treasury yields, as investors awaited key US payrolls data for clues on the Federal Reserve’s policy path.
Gold prices fell today Friday, heading to record losses for the second consecutive week, affected by the rise in the United States dollar and the proceeds of United States Treasury bonds, at a time when investors are waiting for US job data to look for indicators on the course of the Federal Reserve Council's monetary policy.
Business Recorder
Times of IndiaGold slips before US payrolls data, set for second weekly loss
Gold prices fell on Friday and were on track for a second straight weekly decline, pressured by a firmer US dollar and elevated Treasury yields, while investors awaited key US payrolls data for clues on the Federal Reserve’s policy path. Spot gold fell 0.6% to $4,154.78 per ounce by 0205 GMT and was down more than 3% for the week so far. US gold futures lost 0.4% to $4,184.00. The US dollar was headed for a weekly gain, making greenback-pri…
Gold reduced its gains and approached stability as the dollar climbed to the highest level in three months, although the US interest-raising stakes declined after lower than expected inflation data, while markets were waiting for jobs to determine the course.
Coverage Details
Bias Distribution
- 43% of the sources lean Left, 43% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
