Gold eyes nonfarm payrolls data

Published on Oct 07, 2022 13:25

The US dollar retreating further from its two decade peak tracking fall in benchmark treasury yields are seen benefited gold prices. Gold recovered back above $1700 mark since the start of the week after having battered severely below the crucial mark amid hawkish Fed hiking interest rates. However, the yellow metal stays largely unchanged and continues to watch out for non-farm payrolls that would give clarity of Fed`s future course of action. COMEX Gold is attempting recovery toward $1720 mark and is currently quoting down 0.07% at $1719.75 an ounce.