Ananya

Educating people by helping them understand the benefits of precious metals as part of their portfolios.

US Jobs Report Likely to Inform Inflation Narrative – GoldSilverReports

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Nonfarm Payrolls Report Cancelled Amid Ongoing U.S. Govt Shutdown
  • US jobs report likely to inform inflation narrative, US Dollar and Gold price.
  • If the labor market is strong, the Federal Reserve could plough ahead with larger rate hikes. 
  • Gold price could continue south if a strong result solidifies expectations of a 0.5% rate hike in March.

Gold price has been in a downward spiral since the start of February, and with the next major release for the commodity likely to be the US Bureau of Labor Statistics US jobs report for February, scheduled for release on Friday, March 10, traders may be wondering whether this will continue.

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Fed’s Powell is the next major catalyst ahead of Nonfarm Payrolls

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US Credit Rating

Recent comments by Fed officials have reiterated the need to continue hiking rates until they reach at least 5% and a slew of data has pointed in that direction in general. ”Several regional Fed presidents have indicated openness to higher interest rates and larger increases if the data remain strong. It would mark a shift in the Fed’s guidance if Powell articulates similar sentiments at tomorrow’s testimony and a step back from the cautious policy around rates,”.

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Gold is Trapped Between Hourly Support and Resistance 

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क्या भारत में सोने की कीमत 55,000 रुपये प्रति 10 ग्राम तक आ सकती है? जानें तथ्य और भविष्यवाणी
  • The bulls are relying on a move above $1,837 while bears seek a break below $1,831. 

Gold (XAU/USD) price is holding in a bullish territory after climbing from the start of the week’s low near $1,821 and reaching a high of $1,847. However, the yellow metal finished with a loss on Thursday, following three three-day winning streak, as strength in the U.S. dollar weighed.  The US Dollar Index, DXY,a measure of the greenback’s strength against a basket of rivals, gained 0.6% to 105.102 

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Rail Vikas Nigam Climbs 10% After Bagging Vande Bharat Project

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  • Shares of Rail Vikas Nigam Ltd. advanced 9.83% to Rs 64.25 apiece in trade on Thursday.

The company emerged as the lowest bidder for manufacturing-cum-maintenance of Vande Bharat train sets, including upgradation of the government manufacturing units and trainset depots, in joint venture with selected partners.

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Adani Enterprises Jumps Over 30% In Two Days

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  • Gautam Adani’s flagship company, Adani Enterprises Ltd., gained 30% in the last two days following roadshows in Singapore and Hong Kong that addressed bond holders.
  • The surge came after a report said Adani Enterprises has secured a $3 billion credit line from a Middle Eastern sovereign fund.

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