Gold Price Looking for Stimulus Forex Gold Trading
Bullion prices rose on Friday to pare the third consecutive weekly decline after the US jobs report showed that employers added a healthy number of jobs in August.
This suggested some easing in a tight labor market and provided mixed implications for the Fed's monetary tightening trajectory.has been stable in a narrow range between the level of 1707 dollars and the level of 1716 dollars for an ounce. There are growing expectations that the European Central Bank will rise by 75 basis points as soon as Thursday, but the decision remains challenging as President Christine Lagarde and her colleagues manage the twin problems of rising price pressures and an impending recession.
On Friday, European ministers will discuss special measures to rein in rising energy costs, from capping gas prices to suspending the trading of energy derivatives.The price of oil rose before the OPEC + meeting on supplies.
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