empty
 
 

2020.07.0210:41:00UTC+00Gold Edges Higher Ahead Of U.S. Payrolls Data

Gold prices rose slightly on Thursday and the dollar dipped as investors look ahead to the U.S. Labor Department's closely watched monthly employment report for June later in the day for further clues about the health of the world's largest economy.

Spot gold edged up 0.2 percent to $1,773.99 per ounce, after having touched $1,788.96 on Wednesday, its highest level since October 2012. U.S. gold futures were up 0.3 percent at $1,785.15.

Risk sentiment improved somewhat as encouraging news on a vaccine for Covid-19 as well as upbeat manufacturing PMI data across the globe helped revive hopes for a quick economic recovery.

However, concerns persist about the spread of the coronavirus after the United States recorded its biggest one-day spike in coronavirus cases and California reimposed some coronavirus lockdown measures.

Elsewhere, China today warned of strong countermeasures if the U.S., Australia and the U.K. continued taking actions in response to Beijing's tough national security law in Hong Kong.

The U.S. House of Representatives on Wednesday passed legislation that would penalize banks doing business with Chinese officials who implement a national security law.

The United Kingdom condemned China's new security law on Hong Kong as a threat to the city's freedom and said it would offer a path to citizenship for eligible Hong Kong residents.

Australia said it is working on a scheme to provide safe haven to Hong Kong residents.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback