FX & CFD trading involves significant risk
The price of gold rises slightly after sharp fluctuations in the previous two sessions , while the impact of geopolitical factors weakened. A slight increase of the precious metal held against the depreciation of the dollar against major currencies, which contributed released in the U.S. statistics.
As shown by recent data that were presented Automatic Data Processing (ADP), in February, employment in the private sector increased markedly , although not enough to confirm the evaluation of many economists. According to a report last month, the number of employees increased by 139 thousand people, compared with a revised downward indicator for the previous month at 127 million ( initially reported growth of 175 thousand jobs ) . Add that, according to the average forecast of this indicator would grow by 159 thousand
In turn, in February, the index of business activity in the U.S. service sector (ISM Non-Manufacturing) fell to 51.6 points, the minimum for the last four years , with 54 points in January , according to the Institute for Supply Management (ISM). According to experts , the value of this indicator was reduced to 53.8 . Exceeding the index level of 50 points indicates growth of business activity in the service sector , while the index value below 50 indicates its decline. All major sub- indices , except one, were in February in the territory of the expansion (more than 50 ) , and some even showed an increase .
The cost of the April gold futures on the COMEX today rose to $ 1340.80 per ounce.
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.