Gold Markets Fortune Cookies: U.S. Non-Farm Payrolls

Fortune Cookie

Gold prices rose after the ECB press conference yesterday, and showed signs of stability ahead of the U.S. non-farm payrolls numbers announcement today.
The yellow metal prices resisted the outflows of ETFs capitals, supported by the ECB decisions to maintain their current monetary policy and the physical demand from Asia.
On Friday morning, the low prices of gold and China’s holiday kept the physical demand stable, although the Indian physical demand slowed down, as they Indian market is bargain-hunting after buying massive quantities last month. Yet, the current low prices sprung gold coins and bullions purchases in Asia, Europe and the U.S.
Investors are still hesitant, whether the physical demand will be sufficient to keep gold prices above $1,500 mark, a level gold prices seen the last month. That makes the deciding factor in the gold bulls and bears struggle is the U.S. nonfarm payrolls as an indicator of the economic performance of the USD.