Intraday Market Thoughts Archives

Both NFP and the Unemployment rate will be crucial in determining interest rate expectations and gold. If NFP is expected +55K after a revised -23K, while the unemployment rate is expected to remain unchanged at 4.1%.  لا تنسوا ندوتي يوم الإثنين وهنا رابط التسجيل It will take very little unemployment rate to rise back to 4.2%, so if it does and NFP comes in once again below 100K, the news would help gold. But there are other more complex combination such as: If NFP weakens to 10K or 20K and unemplpyment remains unchanged at 4.1%, this would also help gold. But gold is facing crucial trendline resistance (see chart below) at 4500/05, while Keep silver resistance stands at 67.80/90. Keep in mind that Monday is a holiday in the US, but the US Treasury is due to start its bonds buy-back operations on Wednesday/Thursday, which is seen positive for bond prices and gold. And of course, CPI will follow next Friday. Careful.

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