Gold Prices Steady in Asia Morning Session
Gold bullion prices pared earlier gains as "JOLTS data confirmed our expectations for a rebound in the jobs market, alleviating concerns of a significant slowdown in the labor market ahead of Friday's nonfarm payrolls report," said Daniel Ghali, commodity strategist at TD Securities.
A strong jobs report could prompt the Fed to take a cautious stance on cutting interest rates. Investors' focus shifts to the ADP jobs report and Fed Chair Jerome Powell's speech on Wednesday, ahead of Friday's payrolls report.
RECOMMENDATION
- Buy if price moves to at least $2644
- Sell if price moves to at least around $2634
Resistance Level 2: $2658
Resistance Level 1: $2651
Support Level 1: $2627
Support Level 2: $2620
DISCLAIMER
Note: This article is only an analysis and not a definitive reference. Pay attention to developments in fundamental and technical aspects in trading before making investment decisions.
Source: newsmaker.id