Gold holds above $4,250 as firm dollar, Fed hike bets cap gains ahead of US jobs data

fxstreet.com

Gold holds above $4,250 on Friday, heading for its best week since January, though firm dollar and Federal Reserve rate-hike bets cap gains before US jobs data. Geopolitical tensions support the safe-haven dollar: President Trump said the Iran war could end soon, but reports of planned attacks and a Houthi strike on a Saudi tanker dampen peace hopes. Traders see over 80% chance of a Fed rate hike this year. Technically, gold faces resistance near $4,300 and support around $4,165–$4,151. Analysts say Friday’s US nonfarm payrolls will be key to whether the breakout and yield/dollar decline can be sustained.


With a significance score of 1.2, this news ranks in the top 47% of today's 33251 analyzed articles.

Get summaries of news with significance over 5.5 (usually ~10 stories per week). Read by 10,000+ subscribers:


Gold holds above $4,250 as firm dollar, Fed hike bets cap gains ahead of US jobs data | News Minimalist