GOLD expected to decrease this week.
World gold price trades at 1997 USD/ounce. Compared to last week's closing session, world gold prices decreased slightly by 6 USD/ounce.
Some analysts believe that the coming time will be challenging for gold. Currently, the gold market is under pressure because the November employment report in the US published last weekend was quite positive. Specifically, non-farm payrolls in the US in November created 199,000 new jobs, higher than the forecast 180,000 jobs and 150,000 jobs created in October.
The unemployment rate in November was at 3.7%, lower than forecast and reached 3.9% in October. Average hourly income in November also increased from 0.2% in October to 0.4%, higher than the 0.3% forecast.
The gold market is also under pressure because the US Federal Reserve (Fed) meeting will take place on December 12 and 13.
Closing last week's trading session, gold prices fell sharply by more than 3% at the end of last week, causing the gold market to witness the strongest fluctuation since mid-August 2020. Many experts predict precious metal prices will decrease this week.
After the jobs report and wage data released last week, the US Federal Reserve (Fed) may become more hawkish, which will push the USD and bond yields higher, putting pressure on for gold price.
Some analysts believe that the coming time will be challenging for gold. Currently, the gold market is under pressure because the November employment report in the US published last weekend was quite positive. Specifically, non-farm payrolls in the US in November created 199,000 new jobs, higher than the forecast 180,000 jobs and 150,000 jobs created in October.
The unemployment rate in November was at 3.7%, lower than forecast and reached 3.9% in October. Average hourly income in November also increased from 0.2% in October to 0.4%, higher than the 0.3% forecast.
The gold market is also under pressure because the US Federal Reserve (Fed) meeting will take place on December 12 and 13.
Closing last week's trading session, gold prices fell sharply by more than 3% at the end of last week, causing the gold market to witness the strongest fluctuation since mid-August 2020. Many experts predict precious metal prices will decrease this week.
After the jobs report and wage data released last week, the US Federal Reserve (Fed) may become more hawkish, which will push the USD and bond yields higher, putting pressure on for gold price.
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