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Gold: Gets Hammered After NFP Numbers
The gold market witnessed a significant downturn during Friday's trading session, triggered by the unexpectedly robust jobs report from the United States. This abrupt movement, however, is likely a temporary reaction rather than a lasting trend. Gold prices were severely affected on Friday, as traders reacted nervously to the better-than-expected jobs report. The bond market's notable sell-off led to rising interest rates, which, in turn, had a negative impact on gold. Despite this, the 50-day Exponential Moving Average (EMA) is poised to continue offering support, and this is expected to persist in the foreseeable ... (full story)