Gold Heads for Weekly Decline Ahead of U.S. Jobs Data
Friday, 3 May 2019 09:08 WIB | PRECIOUS METALS |GOLDEMAS Spot Emas

Gold headed for a fifth weekly drop in six after Federal Reserve Chairman Jerome Powell's comments Wednesday had traders trimming bets on an interest rate cut this year. Investor focus is now on Friday's U.S. jobs data release and trade talk developments.

Powell downplayed a recent slide in U.S. inflation, saying œtransitory factors may be dragging it down. Today's jobs report is set to show a tight labor market that's pressuring firms to keep boosting wages.

Spot gold little changed at $1,271.53/oz at 8:42am in Singapore; -1.1% this week.

Source : Bloomberg

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