Gold is trading steadily around $4,070 per troy ounce after the release of mixed US employment data. September job growth was stronger than expected, but unemployment also rose, so the signal isn't entirely bullish or bearish for the economy.
For the market, this figure isn't strong enough to force the Fed to immediately cut interest rates in December. As a result, gold is likely to trade sideways for now: held back by still-high interest rates, but still seen as a safe haven amid signs of an economic slowdown. (asd)
The price of gold at the time of this analysis was $4,073.
Disclaimer:
This article is analytical in nature and does not constitute a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
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