GOLD - After news of Nonfarm, how will Gold run?
The world gold price increased within a mechanical border as both investors and experts feared, the USD exchange rate will be adjusted higher later this month, after the meeting of the US Federal Reserve (US Federal Reserve). Fed).
By the US jobs data in June overall still increased quite strongly. If only the non-agricultural sector decreased, but in the private sector, employment increased sharply, nearly doubling May's employment to 497,000.
There are also some experts with opposing views, that gold benefits when the economy is weak. However, this number is not much. The majority of market predictions are that the Fed will raise rates twice more by the end of the year. By the job market is still quite positive and GDP growth in the first quarter of 2023 is higher than forecast. These are the two factors that push the Fed to implement a tight monetary policy to use the emitter mode.
Kitco News' latest weekly gold survey shows Wall Street analysts tend to be slightly bullish, while Main Street retail investor sentiment is evenly balanced. Optimism increased after two weeks of bearish sentiment in the market.
Last week, the precious metal ended a three-week losing streak with support above $1,900 an ounce. Gold price for August futures was last traded at $1,933.30 per ounce, up 0.20% from the previous trading week.
By the US jobs data in June overall still increased quite strongly. If only the non-agricultural sector decreased, but in the private sector, employment increased sharply, nearly doubling May's employment to 497,000.
There are also some experts with opposing views, that gold benefits when the economy is weak. However, this number is not much. The majority of market predictions are that the Fed will raise rates twice more by the end of the year. By the job market is still quite positive and GDP growth in the first quarter of 2023 is higher than forecast. These are the two factors that push the Fed to implement a tight monetary policy to use the emitter mode.
Kitco News' latest weekly gold survey shows Wall Street analysts tend to be slightly bullish, while Main Street retail investor sentiment is evenly balanced. Optimism increased after two weeks of bearish sentiment in the market.
Last week, the precious metal ended a three-week losing streak with support above $1,900 an ounce. Gold price for August futures was last traded at $1,933.30 per ounce, up 0.20% from the previous trading week.
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