[ad_1]
Gold prices fell on Tuesday as the dollar benefited from a drop in risk appetite, and the metal is expected to experience volatile trading as Friday’s US employment figures approach. , which could impact the Federal Reserve’s plans to cut stimulus. .
And gold fell 0.6% in spot trades to $ 1,758.27 an ounce (one ounce) at 0643 GMT, after hitting $ 1,770.41 on Monday, its highest level since September 23. US gold futures fell 0.6% to $ 1,757.30.
The dollar index rose, making gold more expensive for buyers than for holders of other currencies, while stock markets fell amid fears that rising energy prices would dampen growth economic.
The fall in stocks is prompting Asian investors to buy the dollar, which puts pressure on gold, said Jeffrey Haley, chief market analyst for the Asia-Pacific region in Oanda, adding that the metal would be at a low. range between $ 1,750 and $ 1,785 before the US Jobs Report.
The non-farm payroll is expected to show continued improvement in the labor market, likely allowing the Federal Reserve to start phasing out stimulus before the end of the year.
As for other precious metals, silver fell in spot transactions 0.8% to $ 22.48 an ounce, platinum fell 0.9% to $ 958.83, while palladium rose 0.1% to $ 1,906.45.
Follow the economic statement via Google News
Source link
