Gold falls ahead of US employment data
2019-01-04 12:37 pm | Resource: News | No Views : 64
Gold prices fell on Friday and shares rose after the United States and China announced new trade talks next week. As gold prices trimmed gains on Friday after crossing the important barrier $ 1,300, amid concerns about global growth and investors are looking for data on US jobs.
Hatham draws attention to the latest monthly US jobs report for 2018 which will be released later today, with expectations that the US economy will add 180,000 jobs in December.
A special survey showed growth in the Chinese services sector rose to a six-month high in December, easing fears about global growth.
Gold prices rallied yesterday as safe haven sentiment followed weak manufacturing data in the US, as Apple cut its revenue forecast, boosting concerns about global growth, as well as continuing partial US government closures.
US stocks advanced in primary markets on Friday
Optimism after the United States and China agreed to resume trade talks at the level of deputy ministers next week. Traders also focus on Fed Chairman Jerome Powell's speech later in the day.
China and the United States will hold trade talks at vice-ministerial level in Beijing on Jan. 7 and 8 in a bid to defuse trade tensions, the Commerce Ministry said.
A senior White House adviser said China's sluggish growth had an impact on Apple and other US companies, but sales should recover once Washington struck a trade deal with Beijing.
- The Dow Jones Industrial Average rose 1.20%
- The Nasdaq 100 rose 1.80%
- The Standard & Poor's 500 Index rose 1.33% at the same time.
The euro rose 0.14% against the US dollar to change it at 1.1414 at 4:33 am ET.
- Spot gold fell 0.1 percent to $ 1290.48 an ounce after hitting a high of $ 1.298.42 earlier in the day, its highest level since mid-June.
- Gold futures in the US fell 0.2 percent to $ 1,292.50
Time frame Used - four hours The USDJPY is moving in a sideway direction in the near term. The USDJPY is still facing resistance and selling pressure around the resistance level of 109.07 trying to breach this level to the upside, but we note that the USD/JPY moves between the upper boundary and the moving average line of the Bollinger indicator. In view of the technical indicators Both the RSI…
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