◆ Gold prices recovered to $1,507/oz after falling to $1,496/oz despite a poor jobs number; this was expected to see gold make gains due to the likelihood of further Fed rate cuts
◆ U.S. job creation was less than forecast in September (September payrolls 136K, Exp. 145K) and wage gains cooled in yet another warning that the record-long U.S. economic expansion is coming to an end and wages further stagnate
◆ Gold had been heading for a weekly advance following more signs of a slowdown this week; it needs a weekly close above $1,497/oz to end higher for the week
◆ A lower weekly close will likely lead to more selling early next week as both technical and momentum driven players continue to push gold prices lower
◆ A higher weekly close today and a close over $1,500/oz would be quite bullish and could signal that the recent shallow correction is over
NEWS and COMMENTARY
Gold falls below $1500 mark despite poor US employment data
Gold gains on soft U.S. service sector data, focus on jobs report
Gold gains 1% as poor U.S. data ignites growth worries
Palladium to build on record peak as market tightens again
U.S. recession risks up as services growth hits three-year low
Dollar may enter 2020 on a strong footing, no contender in sight: Reuters poll
Vanguard to challenge banks’ grip on $6 trillion currency market
2019 may see the beginning of the end of the biggest monetary experiment ever – Saxo
Gold Prices (LBMA – USD, GBP & EUR – AM/ PM Fix)
03-Oct-19 1504.00 1517.10, 1221.70 1223.84 & 1372.25 1380.26
02-Oct-19 1484.05 1492.60, 1213.21 1215.13 & 1359.84 1364.68
01-Oct-19 1466.10 1473.45, 1193.11 1206.17 & 1345.29 1349.97
30-Sep-19 1487.60 1485.30, 1208.38 1206.06 & 1361.75 1362.17
27-Sep-19 1496.15 1489.90, 1218.17 1209.05 & 1369.58 1362.51
26-Sep-19 1507.05 1506.40, 1223.72 1219.28 & 1378.50 1374.89
25-Sep-19 1530.85 1528.75, 1231.11 1234.62 & 1391.24 1391.77
24-Sep-19 1520.25 1520.65, 1220.76 1216.67 & 1382.36 1381.36
23-Sep-19 1519.50 1522.10, 1222.13 1225.90 & 1385.48 1385.11
20-Sep-19 1504.10 1501.90, 1199.07 1203.62 & 1361.06 1362.52
19-Sep-19 1498.40 1500.70, 1200.67 1201.76 & 1354.85 1357.08
18-Sep-19 1502.20 1503.50, 1206.27 1204.90 & 1360.39 1359.92
17-Sep-19 1499.30 1502.10, 1208.89 1207.24 & 1361.51 1360.45
16-Sep-19 1502.05 1497.20, 1207.35 1203.30 & 1357.25 1359.46
13-Sep-19 1506.30 1503.10, 1209.41 1208.19 & 1356.88 1358.35
12-Sep-19 1502.95 1515.20, 1219.94 1227.46 & 1362.88 1373.53
11-Sep-19 1493.65 1490.65, 1208.21 1209.07 & 1354.74 1355.90
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