The precious metal is patiently waiting right at the $2,000 mark as the US prepares to release jobs data.
Gold prices were moving sideways in early Friday dealmaking, as traders and investors held their breath ahead of key US data. The jobs report, known as nonfarm payrolls, will be released today and it may cause increased volatility, ending a jittery week for gold’s performance.
The payrolls number will show how many Americans found jobs in March. The figure will be closely watched by all market participants as it will indicate the health of the US economy. Especially after the aggressive rate-hike campaign from Jay Powell and his Federal Reserve clique.
In that context, gold rose on Wednesday to a 12-month high at $2,030 per troy ounce. The shine was brought after several US reports pointed to a slowdown in economic and labor market growth. With stocks closed for trading today, gold prices might get wild in response to the jobs data.
