Gold futures trade slightly higher Friday morning, as investors await September employment data from the Labor Department, which could influence trading in...
Gold futures traded slightly higher Friday morning, as investors awaited September employment data from the Labor Department, which could influence trading in precious metals.
A good jobs report may compel the Federal Reserve to announce plans to scale back its bond purchases at its next meeting in November which could influence the U.S. dollar and dollar-priced assets. “However, if the data comes in well below expectations, then yields could drop as investors push out their rate hike expectations. In this potential event, gold on the long side might be the trade to concentrate on,” the analyst wrote.
Meanwhile, silver for December delivery SIZ21, -0.26% SI00, -0.26% shed 3 cents, or 0.5%, to trade at $22.56 an ounce, following a 0.6% gain on Thursday. For the week, gold’s sister metal is headed for a 0.1% rise.
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