Gold Back Above $1,900 as Dollar, Yields Soften After Lackluster U.S. Jobs
P = $1,882.60 +17.8
a = $1,900.40 +3.16%
Gold had waddled in $1,800 territory since Thursday as the dollar and yields turned higher on weekly U.S. employment claims that came in at their lowest since the COVID-19 outbreak in March 2020.
“Wall Street should see investor demand improve for safe-havens such as gold, as global tax and inflation concerns intensify,” said Ed Moya, head of U.S. research at online broker OANDA. “Gold faces short-term resistance at the $1,925 level.”
Dow Jones – Previous = 34,756.39 Actual = 34,630.24 -126.15 -0.36%
S&P 500 – Previous = 4,226.52 Actual = 4,226.52 -3.37 -0.08%
NASDAQ -Previous = 13,814.49 Actual = 13,881.72 +67.23 +0.49%
S&P closes nominally lower as investors wait for a catalyst
The S&P 500 ended a languid session slightly in the red on Monday, with investors standing by on news of a global minimum corporate tax rate, lingering inflation fears, and a lack of market-moving economic news.
The Dow closed well within negative territory, while the Nasdaq advanced. Still, the S&P and the Dow remained inside one percentage point of their record closing highs.
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