Gold prices under pressure | Market outlook
Updated
Gold prices show a rather active decline during the Asian session, developing a "bearish" signal formed the day before, when the instrument was pressured by the growth of US Treasury bond yields and expectations of a tougher position of the US Federal Reserve on the reduction of existing stimuli. At the same time, gold ignored the fact of the decline in USD, which is awaiting the publication of Friday's labor market report for July. Among other things, analysts expect an increase in new jobs in the non-agricultural sector by 870K after an increase of 850K in June. The unemployment rate in the country may fall from 5.9% to 5.7%, which may be a signal for the regulator to start reducing the existing incentives.
Comment
Short-term target reached.Trade closed: target reached
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