Gold price (XAU/USD) remains calm before the US Nonfarm Payrolls (NFP) and ISM Manufacturing PMI data for August, which will set an undertone for the Federal Reserve’s (Fed) interest-rate decision to be taken on September 20. Fed Chair Jerome Powell at the Jackson Hole Symposium that further policy action will depend on incoming data and cited that inflation has become more responsive to the job market.
The precious metal struggles for a decisive move as investors wait for a clear picture of labor market conditions for making an informed trade. The US ADP Employment Change report released on Wednesday suggested that labor demand softened and wage growth momentum slowed in August. Firms appear to be reluctant to expand their labor force to avoid excess production due to a deteriorating demand outlook.
Gold buy 1944
Buy limit 1940
Target 1970
Sl 1930
The precious metal struggles for a decisive move as investors wait for a clear picture of labor market conditions for making an informed trade. The US ADP Employment Change report released on Wednesday suggested that labor demand softened and wage growth momentum slowed in August. Firms appear to be reluctant to expand their labor force to avoid excess production due to a deteriorating demand outlook.
Gold buy 1944
Buy limit 1940
Target 1970
Sl 1930
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