Gold Market Highlights
Actualizado
Gold (XAU/USD) is holding steady around $1,985 in early Friday trading. Lower US Treasury bond yields and a weaker US dollar (USD) are bolstering gold. Market caution prevails ahead of the highly anticipated US Non-Farm Payrolls (NFP) report, expected to reveal a 180,000 job increase in October.
The US Dollar Index (DXY) is hovering near 106.17 after rebounding from a weekly low of 105.81. Yields on US 10-year Treasury bonds have dropped to 4.663%, the lowest since September 13.
The market believes the Federal Reserve (Fed) is approaching the end of its tightening cycle, as Chairman Jerome Powell emphasized the need for financial conditions to tighten to prevent further interest rate hikes.
Optimistic Chinese data may limit gold's upward potential, with China being the world's largest gold producer and consumer. Traders await China's Caixin Services PMI for May, hoping for strong numbers.
Friday's focus will be on the US Non-Farm Payrolls data, as well as the Unemployment Rate and Average Hourly Earnings for October, offering trading opportunities in the gold market.
The US Dollar Index (DXY) is hovering near 106.17 after rebounding from a weekly low of 105.81. Yields on US 10-year Treasury bonds have dropped to 4.663%, the lowest since September 13.
The market believes the Federal Reserve (Fed) is approaching the end of its tightening cycle, as Chairman Jerome Powell emphasized the need for financial conditions to tighten to prevent further interest rate hikes.
Optimistic Chinese data may limit gold's upward potential, with China being the world's largest gold producer and consumer. Traders await China's Caixin Services PMI for May, hoping for strong numbers.
Friday's focus will be on the US Non-Farm Payrolls data, as well as the Unemployment Rate and Average Hourly Earnings for October, offering trading opportunities in the gold market.
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