Gold Drops over 1% on Higher Oil Prices; US Payrolls Data in Focus
8 Articles
8 Articles
Gold drops over 1% on higher oil prices; US payrolls data in focus
Gold prices declined as oil recovered and fears of inflation renewed and interest rates remained high for a longer time, while investors await US job data in search of indications of the course of monetary policy.
Gold eases on inflation worries from higher oil; U.S. payrolls data in focus
Gold prices eased on Friday as a rebound in oil prices fanned inflation worries and bolstered higher-for-longer interest rate expectations, though bullion remained on track for a weekly gain as investors awaited key US payrolls data later in the day.
Gold prices fell in trading on Friday (November 15, 2021) as a resurgence in oil prices heightened concerns about inflation and bolstered expectations for continued high interest rates in the United States.
Gold falls 0.6% despite Asian stock rout, Goldman Sachs cuts target by $500
🟡 Goldman Sachs slashed its gold target by $500 as spot gold dropped to $4,063. 📉 Gold declined despite losses in Asian stock indexes and surging oil prices. 📊 Central bank policy and US employment data keep support near $4,000 in focus for $XAU. Continue Reading:Gold falls 0.6% despite Asian stock rout, Goldman Sachs cuts target by $500
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