Impact Of Jobs Report On Gold Will Be Felt After Holiday - HSBC

New York (July 4)  As U.S. markets are closed in recognition of Independence Day, investors will have to wait until after the holiday long weekend to determine the full impact of Thursday’s much better-than-expected nonfarm payrolls report, say analysts from HSBC. While gold prices dropped in initial reaction to the report, analysts note that markets were already “thin and choppy.” The analysts also say the bulk of Thursday’s losses were actually ahead of the jobs report. “The real test for gold may be the return of market participants following the holiday, leaving us to believe that bullion may soften in the near term,” they say.

Source: KITCO NEWS