XAUUSD : Gold turned up slightly again after the USD news
Updated
Yesterday on June 5, world prices increased to a high of 2,357 USD and reached 2,373 USD this morning, supported by the weakening of the USD and a decrease in US government bond yields after the latest data showed changes. The labor market is very hot. According to how high
According to ADP, employers added 152,000 jobs in May, much lower than forecast and the number recorded last month, and also the lowest level since the beginning of the year.
RJO Futures senior market strategist Bob Haberkorn said weak labor numbers such as the coronavirus outbreak could prompt the Fed to act somewhat. According to FedWatch CME, the market believes there is about a 67% chance that the Fed will conduct its first rate hike in September, up from less than 50% last week. A low interest rate environment reduces the cost of holding gold, thereby increasing the appeal of this precious metal amid global instability.
In addition, the World Gold Council (WGC) said that net purchases by global central banks increased to 33 tons in April. This is also a big driving force pushing gold prices up recently.
According to ADP, employers added 152,000 jobs in May, much lower than forecast and the number recorded last month, and also the lowest level since the beginning of the year.
RJO Futures senior market strategist Bob Haberkorn said weak labor numbers such as the coronavirus outbreak could prompt the Fed to act somewhat. According to FedWatch CME, the market believes there is about a 67% chance that the Fed will conduct its first rate hike in September, up from less than 50% last week. A low interest rate environment reduces the cost of holding gold, thereby increasing the appeal of this precious metal amid global instability.
In addition, the World Gold Council (WGC) said that net purchases by global central banks increased to 33 tons in April. This is also a big driving force pushing gold prices up recently.
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