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Gold Down, but Moves Small Ahead of Latest U.S. Jobs Report By Investing.com


© Reuters.

By Gina Lee

Investing.com – Gold was down on Thursday morning in Asia, remaining flat as the . Investors also kept movements small with the U.S. job report later in the week.

By 12:11 PM ET (4:11 am GMT), the dollar had fallen 0.10% towards $1,760.05 While the US dollar is usually inversely related to gold, its performance on Thursday was slightly better than last week’s one-year high.

While yield on U.S. 10-year Treasuries benchmarks fell from a peak of more than three months overnight, it remained well above the 1.5% mark.

Data shows that September’s U.S. figure was 568,000, which is higher than the expected. The subsisting numbers of COVID-19 patients boosted high contact activity like dining out and traveling.

Investors now await the jobs report, including , due on Friday to glean clues about the U.S. Federal Reserve’s timeline to begin asset tapering.

Other news: The Reserve Bank of India is expected to announce its policy decisions on Friday.

Investors continue to watch the U.S. Senate debate on raising the debt ceiling. Despite the fact that the Republican and Democrat Parties are close to a compromise for a temporary increase in order to avert a default on federal debt within the next two week, the bipartisan discussion continues.

Other precious metals: Silver was the same at $22.59 an ounce while platinum fell 0.2%, and palladium rose 0.6%.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.