Gold Corrects Ahead Of US Jobs Data

5 Aug 2022 , 04:48 PM

COMEX Gold futures are quoting around $1800 per ounce, down 0.30% on the day as the metal turned lower from one month high ahead of the US nonfarm payrolls. This is a typical response as traders normally tend to cover longs ahead of the critical jobs data. MCX Gold futures are trading at Rs 52023 per 10 grams, down 0.27% on the day after testing a low of Rs 52K. The equities were also mixed globally. Asian stocks rose on Friday as investors awaited an update on the US jobs market later in the day for clues on the pace of monetary policy tightening. European shares eased ahead of the weekend. The US stocks saw mixed moves though the tech-heavy Nasdaq reached a new three-month closing high.Powered by Commodity Insights