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Gold Prices and U.S. NFPs

By Naeem AslamCommoditiesFeb 03, 2023 19:12

au.investing.com/analysis/gold-prices-and-us-nfps-200547470

By Naeem Aslam | Feb 03, 2023 19:12

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The precious metals price action is expected to be a wild one today, and this is because the US NFP number is likely to bring higher volatility for the metal. Again, a strong reading may trigger a sell-off for the gold price as the risk-off rally pick up more strength, and a weak number could push the gold price higher as investors will run for safety.

In terms of important price levels, investors and traders will be looking at the 1,900 as an essential level of support, and if the price drops beyond this point, we may see an intense sell-off in the coming days. As for the resistance, the number which could be tested today is 1950. Overall, the chances are that we may see the gold price recovering some losses today.

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S&P/ASX 200	7,034.10	+72.10	+1.04%
ASX 200 Futures	7,016.5	+24.5	+0.35%
ASX All Ordinaries	7,219.40	+75.60	+1.06%
US 500	3,956.1	-21.4	-0.54%
Dow Jones	32,310.47	-121.61	-0.37%
China A50 Futures	13,146.0	+93.0	+0.71%
Dollar Index	102.125	-0.393	-0.38%

Crude Oil WTI	73.15	+0.34	+0.47%
Natural Gas	2.151	-0.064	-2.89%
Gold	1,990.65	+19.15	+0.97%
Silver	23.385	+0.240	+1.04%
Copper	4.0705	-0.0080	-0.20%
US Sugar #11	21.37	+0.44	+2.10%
US Coffee C	174.18	-2.72	-1.54%

Australia 10Y	3.340	+0.028	+0.85%
Australia 5Y	3.056	+0.042	+1.39%
New Zealand 10Y	4.122	+0.017	+0.40%
U.S. 10Y	3.551	+0.023	+0.64%
Japan 10Y	0.324	+0.005	+1.72%
China 10Y	2.877	+0.013	+0.45%
Singapore 10Y	2.895	+0.009	+0.33%

CSL	285.00	-3.94	-1.36%
Woolworths	37.560	+0.010	+0.03%
ANZ Holdings	22.640	+0.200	+0.89%
Commonwealth Bank Australia	96.060	+0.990	+1.04%
Telstra Group	4.190	-0.020	-0.48%
National Australia Bank	27.660	+0.250	+0.91%
BHP Group Ltd	44.400	+0.850	+1.95%

	Interest Rates	Next Meeting
RBA	3.60%	Apr 04, 2023
BOE	4.25%	May 11, 2023
ECB	3.50%	May 04, 2023
FED	5.00%	May 03, 2023
SNB	1.50%	Jun 22, 2023
BOC	4.50%	Apr 12, 2023
RBNZ	4.75%	May 24, 2023
BOJ	-0.10%	Apr 28, 2023
CBR	7.50%	Apr 28, 2023
RBI	6.50%	Apr 03, 2023
PBOC	3.65%
BCB	13.75%	May 03, 2023

Gold Prices and U.S. NFPs

Gold Price

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