Gold retreated during the overnight session, as traders appeared to be taking profits off the table ahead of today’s non farm payroll figures, scheduled for 1330. There appears to be a two way pull between those who think the rally is overdone, and those that believe that we are due to see further rises due to the low interest rates in the US.
Gold & Silver
- We are poised to see the fifth consecutive weekly gain for gold
- Gold holdings in the SPDR ETF rose once again, and is up by 1.63 tonnes over the week
- HSBC analysts believe that lower prices on other precious metals may trigger a corrective pullback in gold prices
Major Economic News
|1330||Non farm payroll figures|