Gold Bounces From Lows As ISM Data Cools Odds Of Fed Rate Hike
Gold futures, on the defensive all week on worries that a strong U.S. jobs report Friday might up the odds of Federal Reserve tightening, finally got a reprieve Thursday when a widely followed U.S. manufacturing survey showed surprising weakness.
Read moreDogs Days of Summer Ending with Critical NFP Report on Sept. 2
The highly anticipated Non-Farms Payroll (NFP) Report for August will be released Friday, Sept. 2nd, at 8:30am EST.
Read moreGold Futures Lifted By Short Covering, Soft ISM Data
Gold futures turned higher in the middle of Thursday morning on short covering after chart support held and a key manufacturing survey was weak, traders said.
Read moreISM: U.S. Manufacturing Index Falls To 49.4% In August
ISM: U.S. Manufacturing Index Falls To 49.4% In August
Read moreCommerzbank: Gold ETFs Post Big Outflow; Silver Inflows Continue
Global holdings of gold by physically backed exchange-traded funds collectively posted their highest daily outflow – of 11.3 tonnes – in nearly three weeks on Wednesday, Commerzbank reports.
U.S. Weekly Jobless Claims Rise 2,000 To 263,000
U.S. first-time weekly jobless claims rose by 2,000 to a seasonally adjusted 263,000 in the week to Saturday, the Labor Department said Thursday. Expectations were for 265,000.
Read moreGold Futures Mired Near Two-Month Lows In Countdown To Payrolls
Gold futures have stabilized but remain near two-month lows Thursday as traders remain focused on Friday’s U.S. jobs report, fearing a strong number will move ahead any potential monetary tightening by the Federal Reserve, traders said.
What Gold Is Saying Today About the Fed
There are a number of reasons why gold trades lower or higher on a given day. Logically, we know that it can be a combination of factors. Today, we have but one.
Read moreBill Gross: Central Banks Mastered Art Of Market Manipulation
Bond kings and former PIMCO colleagues Bill Gross and Mohamed El-Erian, are talking the Fed, and one of them isn’t too happy with central bankers.
Gold Futures Retain Defensive Posture In Countdown To Friday Payrolls
Gold futures hit a two-month low Wednesday before steadying themselves in the second half of the session as traders continued to mark time ahead of the key U.S. nonfarm payrolls report due out at the end of the week.
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