Gold Market
Summaries produced by the GoldRate.info market desk from primary reporting, with sources linked on every article.
Gold dropped more than 0.4% on Monday after Friday’s US jobs report beat expectations, boosting bets that the Federal Reserve will raise interest rates again. Markets now price a 60% chance of a move in September.
Gold prices wavered after a surprisingly strong US jobs report, but analysts see the pullback as temporary amid rising debt, bond yields, and geopolitical tensions.
Kunal Shah of Nirmal Bang remains bullish on commodities. He names gold, silver, copper, crude oil and sugar as top buy-on-dip picks, citing central bank buying and supply constraints.
Australian shares traded in a narrow range on Monday as strength in energy stocks from rising oil prices countered a 1% drop in gold miners, leaving the S&P/ASX 200 flat.
Gold opens the week near $4,400, caught between rate hike fears from strong US jobs data and support from a stable dollar. Technical indicators suggest consolidation.
Gold and silver prices fell as stronger US jobs data boosted expectations of higher interest rates. Analysts see a sideways trend ahead of US inflation data and the Fed's September meeting.
Gold posted a second consecutive weekly loss, settling at $4,477 on Friday. The week’s low of $4,329 was below the prior support zone before a bounce.
Gold prices fell on Friday after strong US employment data reinforced expectations of further Federal Reserve rate hikes, making the non-yielding metal less attractive.
Gold dropped nearly $100 on Friday after a surprise surge in US nonfarm payrolls boosted rate-hike expectations. The metal is set for a second consecutive weekly loss, and traders now look to next week's inflation data.