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Wall Street on the sidelines in gold market as blockbuster NFP raises calls for Fed to hike 75 basis points in September

From kitco.com

The gold market is seeing its third week of gains; however, sentiment is again shifting, as prices cannot break above $1,800 an ounce, according to the Kitco News Weekly Gold Survey. In the latest gold survey, some market analysts said Friday's blockbuster employment report had taken the wind out of gold's sails, at least for the short term. Ahead of the latest survey results, the U.S. Bureau of Labor Statistics said 528,000 jobs were created in July. The data significantly beat expectations economists were forecasting job gains of around 250,000. The report also noted a solid increase in wages. While some analysts ... (full story)

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  • Category: Fundamental Analysis