Gold Falls as Expected US Jobs Report

Gold Falls as Expected US Jobs Report

 

05/8/2017 12:00 am

Capitals / follow - up to the morning
Gold prices fell during trading on Friday after the rise recorded yesterday, it comes in light of the market is ready to accept the report of the US jobs data which prompted commodity prices and currencies to fluctuate during trading Friday.
Gold prices are currently trading at $ 1268.2 an ounce, after hitting a low of $ 1267.3 an ounce. It opened Friday at $ 1269.3 per ounce, reaching a high of $ 1270.0 an ounce.
The decline in gold prices today comes in the shadow of volatility in the Asian stock markets after fears of the current investigation situation in the intervention of Russia in the recent US presidential election, which increased the confusion of markets.
On the other hand, the dollar is trying to rise from Thursday's low after the weak services sector data on the US economy, which increased the negative pressure on gold, especially after yesterday's rise.
Investors favored selling gold at the start of trading on Friday as their positions changed before the US jobs report, which had an impact on dollar levels against currencies.
World gold demand fell 14 percent in the first half of 2017, mainly due to a sharp decline in index fund purchases, the World Gold Council said in a report published on Thursday.
In the latest report on gold demand trends, the central bank said central bank purchases were also slightly lower in the first half, but purchases of bullion, currency and jewelry grew thanks to strong demand in India and Turkey. Investors favored selling gold at the start of trading on Friday as their positions changed before the US jobs report, which had an impact on dollar levels against currencies. World gold demand fell 14 percent in the first half of 2017, mainly due to a sharp decline in index fund purchases, the World Gold Council said in a report published on Thursday. In the latest report on gold demand trends, the central bank said central bank purchases were also slightly lower in the first half, but purchases of bullion, currency and jewelry grew thanks to strong demand in India and Turkey. Investors favored selling gold at the start of trading on Friday as their positions changed before the US jobs report, which had an impact on dollar levels against currencies. World gold demand fell 14 percent in the first half of 2017, mainly due to a sharp decline in index fund purchases, the World Gold Council said in a report published on Thursday. In the latest report on gold demand trends, the central bank said central bank purchases were also slightly lower in the first half, but purchases of bullion, currency and jewelry grew thanks to strong demand in India and Turkey. World gold demand fell 14 percent in the first half of 2017, mainly due to a sharp drop in index fund purchases, the World Gold Council said in a report published on Thursday. In the latest report on gold demand trends, the central bank said central bank purchases were also slightly lower in the first half, but purchases of bullion, currency and jewelry grew thanks to strong demand in India and Turkey. World gold demand fell 14 percent in the first half of 2017, mainly due to a sharp drop in index fund purchases, the World Gold Council said in a report published on Thursday. In the latest report on gold demand trends, the central bank said central bank purchases were also slightly lower in the first half, but purchases of bullion, currency and jewelry grew thanks to strong demand in India and Turkey.


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