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Gold Prices and U.S. NFPs

By Naeem AslamCommoditiesFeb 03, 2023 03:12

ca.investing.com/analysis/gold-prices-and-us-nfps-200548488

By Naeem Aslam | Feb 03, 2023 03:12

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The precious metals price action is expected to be a wild one today, and this is because the US NFP number is likely to bring higher volatility for the metal. Again, a strong reading may trigger a sell-off for the gold price as the risk-off rally pick up more strength, and a weak number could push the gold price higher as investors will run for safety.

In terms of important price levels, investors and traders will be looking at the 1,900 as an essential level of support, and if the price drops beyond this point, we may see an intense sell-off in the coming days. As for the resistance, the number which could be tested today is 1950. Overall, the chances are that we may see the gold price recovering some losses today.

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S&P/TSX 60	1,172.68	+8.28	+0.71%
US 30	32,262.2	+17.6	+0.05%
US 500	3,955.4	+3.8	+0.10%
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Crude Oil WTI	67.23	-0.59	-0.87%
Brent Oil	73.16	-0.63	-0.85%
Natural Gas	2.247	+0.005	+0.22%
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Silver	22.633	-0.013	-0.06%
US Soybeans	1,482.00	-2.50	-0.17%
US Cotton #2	77.59	+0.40	+0.52%

Bombardier Inc	57.370	-2.500	-4.18%
Enbridge	37.15	+0.59	+1.61%
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U.S. 30Y	3.674	+0.012	+0.33%
Germany 10Y	2.1050	+0.0060	+0.29%

	Interest Rates	Next Meeting
BOC	4.50%	Apr 12, 2023
FED	4.75%	Mar 22, 2023
BOE	4.00%	Mar 23, 2023
ECB	3.50%	May 04, 2023
SNB	1.00%	Mar 23, 2023
RBA	3.60%	Apr 04, 2023
RBNZ	4.75%	May 24, 2023
BOJ	-0.10%	Apr 28, 2023
CBR	7.50%	Apr 28, 2023
RBI	6.50%	Apr 03, 2023
PBOC	3.65%
BCB	13.75%	Mar 22, 2023

Gold Prices and U.S. NFPs

Gold Price

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