Gold Sees Slight Recovery After Friday’s Six Year Low, NFP Numbers Due on Friday
December 1, 2015 11:21 am
The US Markets started the week with a rockier session yesterday, with the Dow closing down by 0.44% while the S&P500 ended down by 0.46%. However, the Asian session this morning ended on a positive note, with the Nikkei closing up by 1.34%, while in China the Shanghai Composite rose by 0.32% and Hong Kong’s Hang Seng index closed 1.75% higher.
In the commodities markets, increased speculation regarding a possible December rate rise from the US Federal Reserve has recently sent gold prices downhill, with gold hitting a six-year low of $1,052.46 on Friday. However, gold prices did rise over the course and Monday afternoon and evening, at one point reaching a $1,074 level.
Investors searching for indicators which could potentially influence the US Fed’s decision on interest rate rises are looking ahead to this Friday, when monthly NonFarm payroll numbers are due to be released. Last month’s stellar figures far outstripped the official expectations. Similar results this month could prove to be a shot in the arm, steeling the Fed to make the change; alternatively, though, weak figures might see the Fed adopting a more cautious stance and waiting until 2016 to make a move.
The US Markets started the week with a rockier session yesterday, with the Dow closing down by 0.44% while the S&P500 ended down by 0.46%. However, the Asian session this morning ended on a positive note, with the Nikkei closing up by 1.34%, while in China the Shanghai Composite rose by 0.32% and Hong Kong’s Hang Seng index closed 1.75% higher.
In the commodities markets, increased speculation regarding a possible December rate rise from the US Federal Reserve has recently sent gold prices downhill, with gold hitting a six-year low of $1,052.46 on Friday. However, gold prices did rise over the course and Monday afternoon and evening, at one point reaching a $1,074 level.
Investors searching for indicators which could potentially influence the US Fed’s decision on interest rate rises are looking ahead to this Friday, when monthly NonFarm payroll numbers are due to be released. Last month’s stellar figures far outstripped the official expectations. Similar results this month could prove to be a shot in the arm, steeling the Fed to make the change; alternatively, though, weak figures might see the Fed adopting a more cautious stance and waiting until 2016 to make a move.
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