Gold price update today: Price increased slightly
Updated
Brian, hello everyone!
Yesterday, the gold market witnessed some strong buying pressure as the latest report showed that the US labor market continues to show signs of cooling down, with significantly fewer private sector jobs created last month compared to expectations. Gold traded sideways around the $1825 mark, with a slight increase of $5.5 in early trading on October 5th.
Currently, traders are eagerly awaiting the release of the US Labor Department's employment report for September, which is set to be announced on Friday. We can expect this to be positive news for gold.
Yesterday, the gold market witnessed some strong buying pressure as the latest report showed that the US labor market continues to show signs of cooling down, with significantly fewer private sector jobs created last month compared to expectations. Gold traded sideways around the $1825 mark, with a slight increase of $5.5 in early trading on October 5th.
Currently, traders are eagerly awaiting the release of the US Labor Department's employment report for September, which is set to be announced on Friday. We can expect this to be positive news for gold.
Note
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The persistent strength of the dollar means that countries with debt denominated in this currency continue to face high financing costs, and the only way to reduce those costs is to diversify away from the dollar and gold remains the most attractive global monetary asset.Trade active
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