Dollar recovers, wage expectations weigh on gold
Updated
Gold prices fell slightly on Tuesday, but futures prices were well above spot prices, while copper prices were supported by rising hopes of more stimulus from China.
December futures for yellow metals broke the much-anticipated $2,000 an ounce mark on Monday amid growing speculation that the US Federal Reserve will ease its hawkish stance by the end of the year. .
However, uncertainty over the central bank's near-term outlook, especially ahead of this week's key US jobs report, has pushed spot gold prices well below futures prices.
Gold futures expiring in December fell 0.4% to $2,002.25 an ounce at 20:21 ET (00:21 GMT), while spot gold fell 0.1% to $1,964.14 an ounce. became. Both instruments posted significant gains in July as the dollar plummeted on hopes that the Fed's hawkishness would ease.
XAUUSD BUY 1957 - 1959
✅ TP1: 1962
✅ TP2: 1967
✅ TP3: 1972
❌ SL: 1952
December futures for yellow metals broke the much-anticipated $2,000 an ounce mark on Monday amid growing speculation that the US Federal Reserve will ease its hawkish stance by the end of the year. .
However, uncertainty over the central bank's near-term outlook, especially ahead of this week's key US jobs report, has pushed spot gold prices well below futures prices.
Gold futures expiring in December fell 0.4% to $2,002.25 an ounce at 20:21 ET (00:21 GMT), while spot gold fell 0.1% to $1,964.14 an ounce. became. Both instruments posted significant gains in July as the dollar plummeted on hopes that the Fed's hawkishness would ease.
XAUUSD BUY 1957 - 1959
✅ TP1: 1962
✅ TP2: 1967
✅ TP3: 1972
❌ SL: 1952
Note
Hit TP1 + 35 Pips ✅✅✅
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