Gold price turned to increase slightly at the end of the week

Gold prices stood at $1,942, slightly increasing following the release of the US July employment report. According to the US Bureau of Labor Statistics, non-farm payrolls increased by 187,000 jobs in July, slightly lower than the expected 200,000 jobs.
The report highlighted that the country's unemployment rate improved, decreasing to 3.5% from 3.6% in June, surpassing the expected rate of 3.6%. This is the lowest rate since 1969.
The report highlighted that the country's unemployment rate improved, decreasing to 3.5% from 3.6% in June, surpassing the expected rate of 3.6%. This is the lowest rate since 1969.
Nota
After the employment survey was released, the US dollar (DXY index) declined due to falling Treasury yields. At the same time, gold prices increased to $1,940, influenced by changes in fixed-income investments.Nota
This week, 15 Wall Street analysts participated in Kitco News' Gold Survey. Of these analysts, 8 (53%) expect gold prices to increase next week, while 6 (40%) have a neutral outlook. Only 1 analyst (7%) predicts lower gold prices in the next seven days.Nota
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The central bank's gold demand reached a record high, indicating the significance of gold as a safe haven asset amidst global political tension and challenging economic conditions. Despite a slower growth rate in Q2, the central bank's trend of purchasing gold has controlled the gold market.Penerbitan berkaitan
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