Page 72 - Ommodities News Today

Analysts say weaker-than-expected jobs data could weigh on the dollar and lift precious metal prices

Gold treads water with the market on a wait-and-see stance ahead of the NFP report.

Although the Nonfarm Payroll number was roughly within the benchmark of estimates, printing 199,000 above 183,000 forecasted. It is the unemployment rate decline from 3.9% to 3.7% which is taking away all the attention, and which commodity traders now see as a possible pick up in demand for energy in the coming quarter.

Following an impressive rally at the beginning of the week, Gold turned south and snapped a three-week winning streak.

Gold price is holding the previous recovery above $2,020 early Wednesday, as sentiment remains weak and the United States Dollar (USD) takes a breather from a three-day uptrend.

According to Geojit, The National Commodity and Derivatives Exchange of India has modified the quality specifications for the castor seed futures contracts beginning from Dec 18 and subsequent contracts.

Gold price (XAU/USD) keeps a mild buying tone in Thursday’s early European session, with price action approaching the top of the last few days’ trading range.

Here is what you need to know on Thursday, December 7: The US Dollar (USD) Index extended its winning streak on Wednesday and advanced to its highest level in nearly three weeks above 104.00.

Gold price (XAU/USD) trades with a mild positive bias during the Asian session on Thursday, albeit lacks follow-through and remains confined in a narrow range held over the past three days.

Gold price (XAU/USD) manages to hold above the $2,000 psychological support level during the early Asian session on Thursday.