Gold dipped below $4,300 per ounce as investors awaited today\u2019s US labor market data, with weaker-than-expected figures likely to support prices, while stronger results could trigger volatility by shifting Fed policy expectations, Commerzbank’s Head of FX and Commodity Research Thu Lan Nguyen notes. <\/p>\n
“The price of Gold has fallen below the $4,300 per troy ounce mark again today. In the run-up to the eagerly awaited US labor market data, many market participants are likely to adopt a wait-and-see attitude. Fed Chair Jerome Powell hinted during last week’s central bank meeting that the majority of the FOMC sees greater risks for the labor market than for inflation.” <\/p>\n
“Accordingly, expectations of interest rate cuts had risen again, which had boosted the Gold price. A rather weak result for the November figures for the labor market, which are due to be released today, is likely to confirm these expectations and could help the price rise above the $4,300 mark again.” <\/p>\n
“However, a stronger-than-expected result is likely to cause greater volatility, as this could shift the FOMC’s focus back towards inflation and therefore call further interest rate cuts into question.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold dipped below $4,300 per ounce as investors awaited today\u2019s US labor market data, with weaker-than-expected figures likely to support prices, while stronger results could trigger volatility by shifting Fed policy expectations, Commerzbank’s Head of FX and Commodity Research Thu Lan Nguyen notes.<\/p>\n","protected":false},"author":2,"featured_media":51349,"template":"","news_category":[179],"class_list":["post-51348","news_analysis","type-news_analysis","status-publish","has-post-thumbnail","hentry","news_category-latest-news"],"acf":[],"yoast_head":"\n