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5 Nov 2015
Gold resists above $1,100, eyes on NFP
FXStreet (Córdoba) - Gold inched lower on Thursday and extended losses into a seventh session, although it managed to hold above $1,100 as investors adopt a wait and see stance ahead of the US nonfarm payrolls report.
The yellow metal has lost about $80 an ounce over the last sessions as the dollar continues to strengthen amid speculations the Fed could raise rates before the year ends. As such, Friday’s NFP data could significantly alter the Fed rate hike bets and influence the yellow metal.
At time of writing, spot is trading around $1,1105 an ounce, 0.2% below its opening price.
The yellow metal has lost about $80 an ounce over the last sessions as the dollar continues to strengthen amid speculations the Fed could raise rates before the year ends. As such, Friday’s NFP data could significantly alter the Fed rate hike bets and influence the yellow metal.
At time of writing, spot is trading around $1,1105 an ounce, 0.2% below its opening price.