Gold Weakens Ahead Of Nonfarm Payrolls

Published on Jun 04, 2021 13:01

COMEX Gold futures tanked yesterday as a slide under $1900 per ounce extended for the metal. The commodity saw sustained selling following a good bounce in the US dollar index. The US dollar index broke above 90 mark and pushed commodities lower. Dollar rose ahead of the critical US nonfarm payrolls data on Friday. Gold tanked 2% to test a two week low near $1870 per ounce. The sentiments are likely to be weak ahead of the US non farm payrolls data to be released later today.