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Precious Metals Up: All eyes on the Fed and Nonfarm Payrolls – Gold Silver Reports

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Nonfarm Payrolls Report Cancelled Amid Ongoing U.S. Govt Shutdown

The focus is now on the US Dollar. Will it be able to hold up in worsening domestic economic conditions?

This week’s Nonfarm Payrolls will be the key following an eye-catching fall in the ISM Manufacturing which slipped deeper into contractionary levels in September. A strong Dollar is feeding through and hurting the US manufacturers, according to Donald Trump, “As I predicted, Jay Powell and the Federal Reserve have allowed the Dollar to get so strong, especially relative to ALL other currencies, that our manufacturers are being negatively affected.

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Gold Spot If Close Below $1480 Sell MCX Gold Again 100–500 Lots – Neal Bhai Reports

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Gold Spot If Close Below $1480 Sell MCX Gold Again 100–500 Lots – Neal Bhai Reports

News that the U.S. and China agreed to work toward a fresh round of trade talks next month provided a boost to the U.S. and global stock markets, and a stronger-than-expected private-sector employment data also helped to ease worries about a slowdown in the economy, damaging the metal’s haven appeal.

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Gold Boom Higher on Lackluster Non-Farm Payrolls Data – Gold Silver Reports

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The increase in new jobs for July was downwardly revised to 159,000 from 164,000 and June’s figure was cut to 178,000 from 193,000. Average hourly earnings was a bright spot, rising by 0.4% in August and 3.2% over the year, beating expectations. The market reacted to the jobs data with a sharp rally in gold and the US dollar weakening against its major counterparts.

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