Open Demo Account
Home / Market Update / Commodities / Gold poised to post a weekly loss as Dollar gains ground against bullion

Gold poised to post a weekly loss as Dollar gains ground against bullion

Adel 3 November, 2023 5:39 pm Commodities, Forex Market, Market Update

The gold market has been seeing some two-way price action of late. After hitting close to $2,000 last month on geopolitical worries, Gold is poised for its first weekly loss in nearly a month as safe-haven demand cools ahead of today’s key US jobs data.

Gold edged higher intraday but eased from recent highs as demand has not tempered ahead of today’s key U.S. nonfarm payrolls report. Spot gold was last up 0.2% at $1,989.50 an ounce.

From the start of the week, the yellow metal is down around 1%, retreating from the multi-year high of $2,000/oz marked last month amid escalating Mideast tensions.


Tags

Check Also

U.S. Futures Edge Higher Amid Softer Inflation Data

U.S. stock index futures advanced slightly on Monday as Wall Street reacted to signs of …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends