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Gold Steady as Investors Weigh Trade Hopes, U.S. Jobs


Thursday, 5 December 2019 10:10 WIB

GOLDEMAS


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Gold was little changed after see-sawing this week as investors assessed the latest optimism surrounding progress on a trade deal between the U.S. and China, and a lower-than-expected U.S. jobs report.

The two countries are moving closer to a phase-one pact despite tensions over Hong Kong and Xinjiang, according to a report Wednesday. That revived risk-on sentiment, which had been curbed earlier this week after President Donald Trump downplayed the urgency of an agreement.

Still, there was concern over the U.S. economy after ADP Research Institute data showed companies added the fewest workers in six months. The Labor Department’s jobs report due Friday will be watched for clues on what this could mean for monetary policy after the Federal Reserve paused rate cuts.

Spot gold little changed at $1,475.69/oz at 9:38am in Singapore.

Source : Bloomberg


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