• Register

Stock market analytics, financial forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Gold is rising after the morning fall


October, 06 2021
watermark Economic news

Gold on Wednesday demonstrates high trading volatility: in the morning, the precious metal fell to $1,745 per ounce, then rose sharply to $1,761. The current quote of the asset is $1,757 per troy ounce.


The pressure on the metal is exerted by the growth of US government bond yields and the strengthening of the dollar amid expectations of the publication of an important report by the US Department of Labor on Friday.


Investors are actively buying up the dollar, which is a protective asset on a par with gold, thus hedging the risks of accelerating inflation and slowing economic growth. The rising dollar also reduces the attractiveness of gold as an investment object for holders of other currencies.


The important Nonfarm payrolls report will be released on Friday. At the same time, unemployment data will be published in September. Analysts predict that the number of jobs in the United States, excluding the agricultural sector, increased by 473 thousand, and unemployment fell to 5.1% (from August 5.2%).


It is worth noting that even if the employment data does not show positive dynamics and simply coincides with forecasts, the US Federal Reserve is likely to start curtailing incentives anyway. And this puts additional pressure on gold.


Top Top