Vistabrokers
Vistabrokers Representative
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Vista Brokers: Dollar Weakness Gave Gold Opportunity to Rise
During the European trading session on Friday, gold was rising. Vista Brokers analysts say that yesterday's disappointing data on the US labor market have weakened the dollar and gave metals an opportunity to increase. Recall that a trading volume today is low due to Independence Day celebration in the United States.
August gold futures on Comex have risen by 0.33% to $ 1,167.30 per troy ounce, recovering after closing at $ 1,163.50 on Thursday. Silver futures for September delivery have increased by 0.39% to $ 15,622 per ounce, September copper futures - by 0.26% to $ 2.637 per pound.
Statistics on the US labor market released on Thursday has added uncertainty in the situation with the expectation of the Fed interest rate hike. Such important data as non-farm payrolls, average hourly wages and the number of initial applications for unemployment benefits were worse than expected.
During the European trading session on Friday, gold was rising. Vista Brokers analysts say that yesterday's disappointing data on the US labor market have weakened the dollar and gave metals an opportunity to increase. Recall that a trading volume today is low due to Independence Day celebration in the United States.
August gold futures on Comex have risen by 0.33% to $ 1,167.30 per troy ounce, recovering after closing at $ 1,163.50 on Thursday. Silver futures for September delivery have increased by 0.39% to $ 15,622 per ounce, September copper futures - by 0.26% to $ 2.637 per pound.
Statistics on the US labor market released on Thursday has added uncertainty in the situation with the expectation of the Fed interest rate hike. Such important data as non-farm payrolls, average hourly wages and the number of initial applications for unemployment benefits were worse than expected.