The GOLD Discount Is Still Running, Is There An 'Eye' That Is Watching For An Opportunity?

thecekodok

 Gold was trading steady again as the US dollar rested after recording a sustained increase driven by hawkish Federal Reserve (Fed) statements.


The yellow metal earlier fell sharply to hit a six-week low after Fed Chairman Jerome Powell said it was too early for the central bank to stop raising rates.


In fact, he also signaled that the main funds rate which is currently at 4% may rise higher than the central bank had previously expected.



Gold prices later stabilized, taking the opportunity to rise as investors await the publication of the US NFP jobs report in the New York session today.


In the Asian session, the precious metal traded at $1,633 an ounce, up slightly from the $1,616 an ounce low it touched on Thursday.


Meanwhile, the US dollar remained strong despite having stopped making gains, seeing it trade flat in the Asian session.

Tags