Gold – Gold Takes Losses amid Dollar Gains
The price of gold saw downward movement yesterday, as risk aversion in the marketplace boosted the safe-haven dollar, which made the precious metal more expensive for international buyers. Gold fell close to $12 an ounce during European trading, to trade as low as $1675, before bouncing back to $1681 during the afternoon session.
Turning to today, gold traders will want to focus on the US Non-Farm Payrolls figure and its impact on the USD. A better than expected figure is expected to weaken the safe-haven greenback, which could boost gold prices before markets close for the weekend.
Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities.
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