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Gold $1,200 ahead of US jobs report

News Date: 10/3/2017 01:35:53
 

Gold continued its decline for the tenth day to trade this morning below the psychological barrier of $ 1,200 per ounce, amid growing speculations that the lifting of US interest rates will be soon, and ahead of the US jobs report.

Investors await  nonfarm payrolls number on February later in the day, as a barometer of the U.S. economy after Fed Chair Janet Yellen said last week the central bank was poised to lift rates provided jobs and inflation data held up.Spot gold prices fell 0.23% trades at $ 1197.37 an ounce.

 

Crude oil is trying to recover after falling below 50 for the first time since last December

Future crude oil contracts rebounded during Asian trading, within the attempts to trim losses recorded yesterday, as the contracts fell below the psychological barrier of $ 50 a barrel, with concerns that global supply glut is proving stubbornly persistent.

Future crude oil contracts for delivery in April Hovering near the opening price at $ 49.65 a barrel, after yesterday's recorded low levels at $ 48.60 a barrel.

market confidence has taken a hit after a period of higher prices enticed more U.S. shale oil companies to drill more wells and as stockpiles have remained high.

OPEC producers and a group of other countries including Russia agreed last November to cut output to end two years of declining prices. under this Circumstances Chances of crude oil to rise in the medium and long term is still weak.


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