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Gold prices traded flat on Thursday but were slightly down for the week, as market focus shifted to a crucial U.S. payrolls report for clearer insight into the Federal Reserve‘s anticipated interest rate reduction next month. FUNDAMENTALS * Spot gold was steady at $2,657.13 per ounce, as of 0034 GMT. Bullion was on track for

Dollar continues to dominate the currency markets this week, holding its position as the strongest performer as focus shifts to the upcoming non-farm payroll report from the US. Market reactions to this data will be crucial in shaping financial movements leading up to FOMC rate decision in November. If the employment figures support a standard

The US September jobs report today exceeded expectations, with non-farm payrolls increasing by 254K compared to the 140K anticipated. The unemployment rate fell slightly to 4.1%, nearly reaching 4.0%, and the participation rate held steady at 62.7%. Private payrolls surged by 223K, while average hourly earnings rose by 0.4% month-over-month and 4.0% year-over-year, both above

Gold December futures contracts at MCX opened flat today at Rs 76,357 per 10 gram, which is up by 0.15% or Rs 113 while silver December futures contracts were trading at Rs 93,130/kg, up by 0.16% or Rs 152. Over the last one week, gold prices traded flat, increasing merely by Rs 100/gm. Meanwhile silver

Dollar surged across the board during early US trading after the all-around stronger-than-expected non-farm payroll report. The data showed much higher-than-anticipated job growth, a slight decrease in unemployment rate, and an acceleration in wage growth. This robust set of figures has led traders to largely abandon bets on a 50bps rate cut by Fed in

The US looks like it’s heading for a soft landing. The unemployment rate fell to 4.0510% compared to 4.220% previously and adds downside risks to the Fed’s year-end dot at 4.4%. It also reverses some recent upwards momentum. US unemployment rate The rates market is now pricing in just a 9% chance of a 50

Oil prices were subdued on Friday, but remained on track for strong weekly gains, as investors weighed the prospect of a wider Middle East conflict disrupting crude flows against a well-supplied global market. Brent crude futures were flat at $77.55 a barrel, as of 0646 GMT. U.S. West Texas Intermediate crude futures were little changed

Dollar is gaining some traction, emerging as the strongest currency of the week so far. Several factors are underpinning this momentum. First, Fed Chair Jerome Powell has reaffirmed the expectation of two additional rate cuts this year, adhering to the script established in the latest dot plot. This stance has tempered market speculation about another

Goldman Sachs are estimating that headline nonfarm payrolls rose 165k in September. From the note, in brief: On net, Big Data indicators indicate a pace of job creation above the recent payrolls trend. We assume above-trend (albeit moderating) contributions from the recent surge in immigration and catch-up hiring. We suspect August payroll growth will be

Oil prices rose on Thursday on investor concern that a widening Middle East conflict could disrupt crude oil flows from the region, though a stronger global supply outlook kept a lid on gains. Brent crude futures were up $1.41, or 1.91%, at $75.31 a barrel by 1050 GMT. U.S. West Texas Intermediate crude futures rose

Sterling fell sharply today after BoE Governor Andrew Bailey surprised markets by suggesting the possibility of aggressive rate cuts in an interview with The Guardian. Market expectations quickly adjusted, with swaps now fully pricing in a 25bps cut in November. The odds of a second 25bps cut in December also surged to 70%, up from

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Gold and Silver prices rebounded on Thursday due to fresh demand from stockists and retail consumers for the ongoing festival. The precious metal rose Rs 200 to revisit the all-time high level of Rs 78,300 per 10 grams, according to the All India Sarafa Association. It had closed at Rs 78,100 per 10 grams on

Global markets are showing mixed performance as sentiment diverges across regions. In the US, stocks closed lower with traders displaying increased caution. ISM manufacturing report indicated continuation of the prolonged recession in the sector, though without any sharp deterioration. Attention is now focused on upcoming key economic data, including tomorrow’s ISM services report and Friday’s

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Gold touched a new high of ₹78,300 per 10 gm on Wednesday due to safe-haven buying amid escalating tensions in the Middle East, and lower US bond yields. Market participants are expecting the yellow metal to rise further if global geopolitical uncertainties worsen. Prices rose by ₹1,500 per 10 gm compared to Tuesday. Kumar Jain,

Japanese Yen weakened notably in early US session, reacting to rising US Treasury yields, which were boosted by stronger-than-expected US ADP job data. Adding to Yen’s decline, Japan’s new Prime Minister, Shigeru Ishiba, who was initially perceived as a monetary hawk, has softened his stance on interest rate hikes. After meeting with BoJ Governor Kazuo

USD/JPY rose to the best levels of the day after the US ADP employment report beat estimates. Jobs rose by 143K in the month of September compared to 120K expected. USD/JPY broke 145 on the report and is now up 162 pip to 145.18. The broader moves are coming on both sides of the trade.