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BREAKING: An Iranian oil tanker near Kharg Island has been struck by a missile, reports Iranian media.
BREAKING: Iranian missiles have been intercepted in northern Jordan, Al Arabiya’s correspondent reports.
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From this month , we have changed our monthly prices
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US data
Avg hourly earnings m/m. at 0.3% Vs 0.1% previous
Non Farm Employment change at. 162K Vs -23K previous
Unemployment Rate at. Vs 4.1% previous 4.1%
Negative for gold price
Some good announcement regarding signal subscription in today’s NFP live stream
So tune it before NFP data
#DailyMarketFix
Gold prices jumped started the session with opening above 4400. Currently zooming past 4430. Yesterday Jolts Job openings were missed the forecast and was down. It suggests we still have job data to deal with
Fed will be watching tomorrow's NFP data. August data was in negative and suggested US lost 23K jobs. Tomorrow is real acid test. If jobs are less than 30K then job market would be in trouble.
Troubled job market won't be easy to ignore by Fed and they may have to adjust their earlier hawkish stand.
We will be watching and covering. So stay tune
#DailyMarketFix
Gold prices collapsed as US renewed its attack on Iran. Gold tested below 4300 and Crude oil roared above 90$. Fed would be helpless and now we are looking for a rate hike in next meeting which is due in 2 weeks.
Until unless there is ceasefire or some respite to US bond yields. We are looking for higher inflation which would result in higher interest rate in upcoming months.
Current gold support stands at 4260 and resistance at 4351
Currently its in weak zone.
Non farm data is due this Friday. Last month NFP pumped up the gold from 4200 to 4700. However this month focus would be on Iran and US current situation more than job market.
We will cover all. So stay tune
Iran’s military says it will “no longer exercise restraint” toward Bahrain and Kuwait, adding that “gifts are on the way.”
US Data
ISM manufacturing at 54.6 vs 55.6 previous
ISM manufacturing prices at 71.1 vs 71.1 previous
JOLTS Job opening at 7.27M vs 7.36M previous
Positive for gold prices but chart is weak. Trade with levels and not data
