The international gold market recorded a decrease in gold prices after US employment data was announced. For the whole week, gold prices decreased nearly 1.1% after three consecutive weeks of increases. Then return to increase the threshold to 2064 near the end of the trading session and then immediately decrease to 2043.
According to some analysts, the market is still in a state of tension as investors try to predict the next move of the US Federal Reserve (Fed). Markets are pricing in a 68% chance of the first interest rate cut at the March monetary policy meeting.
The stronger USD and uncertainty about the timing of the Fed's interest rate cut negatively impacted gold prices. Meanwhile, the jobs report released at the weekend showed that the labor market was better than forecast.
This means the Fed can delay the first interest rate cut. Meanwhile, investors are expecting a cut soon.
In addition, better employment reports negatively affect gold prices.
Gold price can maintain above 2,000 USD/ounce if there is a possibility of an interest rate cut in March. However, for gold price to reach 2,058 USD/ounce depends on many factors.
According to some analysts, the market is still in a state of tension as investors try to predict the next move of the US Federal Reserve (Fed). Markets are pricing in a 68% chance of the first interest rate cut at the March monetary policy meeting.
The stronger USD and uncertainty about the timing of the Fed's interest rate cut negatively impacted gold prices. Meanwhile, the jobs report released at the weekend showed that the labor market was better than forecast.
This means the Fed can delay the first interest rate cut. Meanwhile, investors are expecting a cut soon.
In addition, better employment reports negatively affect gold prices.
Gold price can maintain above 2,000 USD/ounce if there is a possibility of an interest rate cut in March. However, for gold price to reach 2,058 USD/ounce depends on many factors.
