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Gold, copper see mild pullback as nonfarm payrolls data approaches
Gold and copper prices edged lower in Asian trade on Friday as markets hunkered down ahead of key nonfarm payrolls data for more cues on the U.S. economy, although both metals marked a strong recovery from recent lows this week. Gold was largely buoyed by a resurgence in bets that the Federal Reserve will keep interest rates steady during a June meeting, with weak labor and manufacturing data furthering such expectations. This saw the dollar mark its steepest drop in nearly three months on Thursday, as some Fed officials called for the central bank to consider holding rates steady in June. Progress towards raising ... (full story)
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- Posted: Jun 2, 2023 12:26am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 224
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