Gold gains 2.6% post Friday’s U.S. monthly jobs data release

08.06.2020 - Davydova Maria
Gold gains 2.6% post Friday’s U.S. monthly jobs data release

On Friday, Gold Futures contract had dropped by 2.7% which had followed an improved monthly U.S. jobs data release. Global markets had gone risk-on with gold continuing to be a safe-haven asset. Monday last week saw the price going slightly above $1,760 while Frday’s daily low fell at $1,671.70. At present, the yellow-colored metal is trades at the bottom of its medium-term consolodation.

This morning, gold went up by 0.78%, offsetting its decline last Friday. With stocks hovering along their medium-term highs, the financial markets stay on risk-on mode.

Economic data releases of late confirm the dire effects created by the coronavirus on international economes, Despite the fact, the monthly jobs data released by the United States on Friday rendered surprisingly positive results. The number of the nonfarm payrolls appeared optimistic. Tomorrow will see the release of the much anticipated U.S. Wholesale Inventories data

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?