Friday, 6 September 2024 01:31 WIB | GOLD |GOLDEMAS
Gold prices rose to near one-week highs on Thursday, on the back of a weaker U.S. dollar and lower yields after signs of labour market losing steam led investors to expect a super-sized rate cut from the Federal Reserve this month.
Spot gold was up 0.9% at $2,515.93 per ounce by 2:03 p.m. ET (1803 GMT), rising as much as 1.1% earlier in the session. Prices slightly pared gains after the U.S. services sector data.
U.S. gold futures settled 0.7% higher at $2,543.10.
U.S. private employers hired the fewest number of workers in 3-1/2-years in August, potentially hinting at a sharp labour market slowdown. This follows data on Wednesday showing a sharp decline in U.S. job openings in July.Traders currently see a 59% chance of a 25-basis-point (bp) reduction by the U.S central bank this month and a 41% chance of a 50-bp cut, according to the CME FedWatch tool,.Attention turns to the upcoming non-farm payrolls (NFP) report on Friday.Elsewhere, spot silver gained 1.9% to $28.82, platinum climbed 2.7% to $926.74 and palladium rose 0.9% to $942.36.
Harga emas naik mendekati level tertinggi dalam satu minggu pada hari Kamis, didukung oleh melemahnya dolar AS dan imbal hasil yang lebih rendah setelah tanda-tanda hilangnya tenaga di pasar tenaga kerja membuat investor memperkirakan penurunan suku bunga besar-besaran dari Federal Reserve bulan ini.Harga emas di pasar spot naik 0,9% menjadi $2,515.93 per ons pada pukul 14:03.
Source : Reuters