Trading Desk Notes For August 12, 2023
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An uptick in the U.S. unemployment rate in October raised the odds of a potential slowdown in the pace of Federal Reserve rate hikes.
Gold, silver prices on November 3: The price of 10 grams of 24-carat gold is Rs 51,120 on November 3. The price of 10 grams of 22-carat gold is Rs 46,860 on average. One kilogram of silver can be purchased for Rs 58,100.
Gold investors are hoping to gain some clarity from the Fed about whether the central bank will slow the pace of rate hikes as the year ends.
The ADP report came in below expections, but the numbers are still strong enough to support a 75-basis point rate hike by the Fed at its Sept Meeting.