- Home
- Analytics
- Market News
- Market Overview
- Gold at 5-Mth Highs after Weak Non-farm Payrolls
Market Overview
Gold at 5-Mth Highs after Weak Non-farm Payrolls
The bullion pushed higher, boosted by the weakening
greenback and was trading 0.60% stronger during the US session, hovering at
around 1,245 USD, which are levels last seen in July this summer.
Earlier today, traders watched the US labor market data. The
non-farm payrolls slowed sharply in November and the US economy created only
155,000 new jobs, against expectations of 200,000, while the previous number
was revised lower to 237,000. The unemployment rate remained unchanged at 3.7%.
Moreover, wage growth stay at 3.1% year-on-year and ticked
higher from 0.1% to 0.2% on the monthly basis. The US dollar declined after
these numbers, while stocks and gold shot higher.
The next level for gold could be at the 200-day moving
average, which is near 1,255 USD. If the bullion jumps above this level, a new
long-term bullish trend could start.
Silver is trying to breach the 100-day moving average near
14.60 USD and if successful, further rise toward 14.80 USD could occur.
Traders also bought short-term bonds on Friday as yields
dropped, while the longer-term yield curve remained slightly higher throughout
the day.
TeleTrade EU is a multi-award-winning, EU licensed and regulated Cyprus Investment Firm.
Risk Warning: Trading Forex and CFDs on margin carries a high level of risk and may not be suitable for all investors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Prior to trading, you should take into consideration your level of experience and financial situation. TeleTrade strives to provide you with all the necessary information and protective measures, but, if the risks seem still unclear to you, please seek independent advice.
© 2011-2023 TeleTrade-DJ International Consulting Ltd
This website is operated by Teletrade-DJ International Consulting Ltd, which is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and is licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11. Teletrade-DJ International Consulting Ltd is located at 88, Arch. Makarios Avenue, 2nd floor, Nicosia Cyprus.
The company operates in accordance with the Markets in Financial Instruments Directive (MiFID).
The content on this website is for information purposes only. All the services and information provided have been obtained from sources deemed to be reliable. Teletrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.
TeleTrade cooperates exclusively with regulated financial institutions for the safekeeping of clients' funds. Please see the entire list of banks and payment service providers entrusted with the handling of clients' funds.
Please read our full Terms of Use.
To maximise our visitors' browsing experience, TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies.
Teletrade-DJ International Consulting Ltd currently provides its services on a cross-border basis, within EEA states (except Belgium) under the MiFID passporting regime, and in selected 3rd countries. TeleTrade does not provide its services to residents or nationals of the USA.
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
