February 02, 2018
ma
Gold prices has seen limited trades during Friday's trades after registering a two-day hike, that's comes with waiting for the markets for the U.S. job report data which may cause further moves for the dollar and the gold after it. The rise in gold pricesover the last two days came due to a fall in dollar levels against a basketball of major currencies after a meeting the Federal Reserve Bank which did not show up on thenew monetary policy continues to gradually raise interest rates. Gold trading is a still heavily influenced by high yields on the "bonds", which reduces the demand for gold as an alternative investment. Gold prices is currently traded at the level of $1348.10 for the ounce, after registering the lowest level at $1346.43 per ounce, and its opened today's meeting at the level of $1349.10 per ounce, registering the highest level at $1350.05 per ounce. Forecasts show that the US economy had provided 181, 000 jobs in January after the previous reading of 148, 000 jobs, while unemployment rates is expected to stabilize at 4.1 percent. Job report would be increase confidence in the movements of the US federal Bank, the recovery of the employment sector and high wage rates to be contribute to the acceleration of the US interest rate, which could affect the movement of the dollar.
