top of page
Laxmi Diamonds.png

Gold Prices Steady After Upbeat U.S. Jobs Report; Powell’s Speech Awaits

Investing.com - Gold prices steadied on Monday in Asia despite the release of a stronger-than-expected U.S. employment report.

Gold Futures for April delivery inched up 0.1% to $1,574.20 by 1:45 AM ET (05:45 GMT).


The latest U.S. employment situation report from the Labor Department showed the key non-farm payrolls figure came in up 225,000, compared to the expected 160,000.


The yellow metal traded mildly lower late last week following the jobs report, but the losses were limited by the uncertainties surrounding the coronavirus.


The virus continues to spread, with over 900 deaths and over 40,000 afflicted in the country, according to data released by the government on Monday.


On a weekly basis, gold futures fell 0.6%, the first time it has slid in a week since mid-December, Investing.com data showed.


Traders now await an important testimony from Federal Reserve Chair Jerome Powell due later this week.


Powell is scheduled to testify on the economic outlook before the House Financial Services Committee at 10:00 AM ET on Tuesday. On Wednesday, he will appear in front the Senate Banking Committee, also at 10 AM ET.


Courtesy - investing.com

0 views

Comments


bottom of page