XAUUSD - Strategic trading on September 4, Sell XAUUSD
In morning trading on September 4, spot gold price increased 0.02% to 1,940.1 USD/ounce at 7:15 am (Vietnam time), according to kitco. Gold price for December delivery, on the contrary, decreased 0.02% to 1,966.75 USD.
Gold prices fluctuated slightly in morning trading on Monday (September 4) with some experts noting that the precious metal has not had enough momentum to enter a bullish zone.
North American markets are closed on Monday for the Labor Day holiday, so analysts say a breakout is unlikely in the short term.
Last week, gold prices for December delivery had a three-week high, quickly threatening $1,980.2 an ounce on Friday (September 1) following the following nonfarm payrolls report. Although the US economy created more jobs than economists expected, curbs on wage growth were weaker than expected and unemployment rose sharply.
The jobs report shows that 187,000 jobs were created in August, with the consensus forecast for an increase of around 170,000 jobs. At the same time, the number of jobs in June and July was revised down sharply.
The unemployment rate also rose to 3.8%, up from 3.5%, while economists expected the figure to remain unchanged.
Some analysts said that although signs of extended letters were starting to appear in the labor market, the data did not give any clear guidance to consultants.
Gold prices fluctuated slightly in morning trading on Monday (September 4) with some experts noting that the precious metal has not had enough momentum to enter a bullish zone.
North American markets are closed on Monday for the Labor Day holiday, so analysts say a breakout is unlikely in the short term.
Last week, gold prices for December delivery had a three-week high, quickly threatening $1,980.2 an ounce on Friday (September 1) following the following nonfarm payrolls report. Although the US economy created more jobs than economists expected, curbs on wage growth were weaker than expected and unemployment rose sharply.
The jobs report shows that 187,000 jobs were created in August, with the consensus forecast for an increase of around 170,000 jobs. At the same time, the number of jobs in June and July was revised down sharply.
The unemployment rate also rose to 3.8%, up from 3.5%, while economists expected the figure to remain unchanged.
Some analysts said that although signs of extended letters were starting to appear in the labor market, the data did not give any clear guidance to consultants.
🟢TP1: 1948
🟢TP2: 1940
⚠️SL: 1962