PLCURRENT Platinum Futures Current Contract
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Platinum Futures Current Contract News
Gold Positioning Is Extreme – TDS
This Central Bank Is Likely to Remain a Major Buyer in the Gold Market
Gold trading reminder: Non-farm payroll may create conditions for gold price to reach new highs! FXStreet Chief Analyst's technical outlook for gold price analysis.
In the Asian market on Friday, spot gold maintained a strong trend, and the current price of gold is trading around $2518 per ounce. Valeria Bednari, Chief Analyst at FXStreet, pointed out that in the short term, based on the 4-hour chart, the risk of the gold price trend is still skewed to the upside.
Gold trading reminder: ADP drags the US dollar down to a one-week low, gold price rebounds above 2510, and the non-farm payroll is coming!
The price of gold rose to a one-week high on Thursday due to a weak US dollar and declining yields. Investors expect the Federal Reserve to make a large-scale interest rate cut this month due to signs of a slowdown in the labor market. Attention will now turn to the non-farm payroll report (NFP), which will be released on Friday. According to a Reuters survey, employment growth is expected to accelerate in August, with an estimated increase of 0.16 million non-farm payroll jobs, surpassing the increase of 0.114 million in July. The unemployment rate for August is expected to decrease to 4.2%.
Gold: Positioning Dynamics Is at Extreme Levels – TDS
"Small non-farm" achieves the smallest growth rate in three years, and gold touches the 2520 level.
The ADP report shows that companies added fewer than 0.1 million jobs last month, marking the fifth consecutive month of slowing growth, further confirming the cooling of the job market.
Gold Futures Close Higher
Gold Looks Supported by Demand From Central Banks, Market Turbulence – NAB
French Foreign Trade Bank: Gold prices will rise to $2600 next year!
The precious metals analyst of the French Foreign Trade Bank pointed out that most of the Fed's rate cuts this year have already been priced in, and investors may see gold prices rise more rapidly next year, especially in the second half of the year.
Gold market analysis: Weak US job vacancy data stops gold from declining.
Wang Gang, the Bank of China's Guangdong Provincial Branch, said that US job vacancies in July fell to the lowest level in three and a half years, coupled with weak US manufacturing data released on Tuesday, escalating concerns about a hard landing of the world's largest economy. Traders have responded by increasing their bets on a 50 basis point rate cut by the Federal Reserve at the next meeting. Private sector employment numbers on Thursday and non-farm employment numbers on Friday will attract more market attention. If the job market continues to be significantly weak, concerns about a recession will inevitably rise, thereby increasing expectations for the magnitude of interest rate cuts in September. At that time, it would be reasonable for gold to rise in response to the stimulus.
The employment data that the Fed is highly concerned about "burst" and the gold price soared to 2500 at one point! How to trade gold when the non-farm employment report is released?
During the US trading session on Wednesday, gold prices surged sharply in response to weak US job vacancy data, reaching a peak of $2500 per ounce. David Meger, Director of Metal Trading at High Ridge Futures, stated that the job vacancy data indicates a slight slowdown in the US economy, leading to a decline in the US dollar and further lowering of interest rates, which provides support for the gold market.
Gold trading reminder: weak US job vacancy data, 50 basis points rate cut heating up, sharp drop in US bond yields helps gold price hold the Bollinger Band midline.
The price of gold hit a bottom and rebounded on Wednesday, reaching a new low of $2471.77 per ounce at one point during the trading session, and closed at $2495.45 per ounce. This was aided by the decline in the value of the US dollar and the drop in US treasury yields. Previously, the reduction in job vacancies in the United States increased expectations of a 50 basis point rate cut by the Federal Reserve in September.
The United States "manipulates" the non-farm employment report! Precious metal investment researchers: Gold faces the "second stage" of inflation, the detonation point.
Precious metals investment researchers have stated that the significant revision of the non-farm payroll report by the USA proves that economic downturns are becoming increasingly difficult to predict. They have warned that the gold market is preparing to face the ignition point of the second stage of inflation, and the Federal Reserve will make the mistake again.
Express News | Spot gold broke through $2500 per ounce, rising 0.29% intraday.
USA's job vacancies in July fell to a nearly three-year low! Gold approaches the major $2500 level.
The decrease in job vacancies is consistent with recent data indicating a slowdown in the labor market. Non-farm payrolls on Friday are crucial!
Gold Prices Come Under Pressure – TDS
Stock markets are falling, but will gold rise? International gold price at $2500, with the expectation of Fed rate cuts, the logic of digging "gold" in September may still continue.
Although the rumor that "the stock market is falling and gold is still rising" can be seen as a joke, there are still relatively certain investment opportunities in gold ETFs, but we still need to be cautious of short-term fluctuations, especially when the Federal Reserve cuts interest rates for the first time. In the long term, with global central banks expected to cut interest rates, the expansion of balance sheets is likely to strengthen the monetary attributes of precious metals.
Gold Futures Close Lower On Profit-taking, Weaker US COMEX Gold Market
Three main reasons to be bullish on gold? Goldman Sachs: Gold prices will reach $2,700 in early next year!
Gold prices are most likely to rise among commodities, according to Goldman Sachs analyst Stephen Quinn in a report titled "Go for Gold", with a target price of $2700 per ounce expected to be reached by early 2025.
Gold Market Analysis: USD Remains Strong, Gold Adjusting at High Levels
The focus of whether gold will rise or fall for the remaining time this year lies in the job market, according to Wang Gang, Bank of China's Guangdong Branch. Therefore, investors are paying attention to a series of data reflecting the job market, such as the U.S. nonfarm payroll report, ISM survey, JOLTS job openings, and ADP employment report to be released later this week. If the data shows resilience, the Federal Reserve will make a modest interest rate cut, leading to a continuation of the current downward trend in gold. On the contrary, if the data is significantly lower than expected, the rate cut will be larger, greatly bolstering and benefiting gold.