Gold price continues its losing streak that began on September 25, trading lower around $1,820 per troy ounce during the early Asian trading session o
Risk-off sentiment exerts pressure on non-yielding assets like Gold.continues its losing streak that began on September 25, trading lower around $1,820 per troy ounce during the early Asian trading session on Wednesday. The prices of Gold are facing downward pressure amid risk-off sentiment and a stronger US Dollar .released over the weekend failed to contribute any support for the precious metal. China’s NBS Manufacturing PMI for August grew to 50.2 from the previous 49.
US JOLTS Job Openings outpaced expectations, contributing to an uptick in US Treasury yields. The 10-year US Bond yield reached its highest level since 2007, hitting 4.81% on Tuesday. Cleveland Federal Reserve President Loretta Mester indicated a likelihood of favoring an interest rate hike at the next meeting if the current economic conditions persist. Conversely,Market participants await the US employment data, with the release of the ADP report on Wednesday and the Nonfarm Payrolls on Friday.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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