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.
- Markets to Watch This Week: Nasdaq 100, US Dollar,BoJ and moreThere continued to be hesitancy in global market sentiment. Wall Street started off 2022 on a sour note, though the second week was less painful. Nasdaq 100 futures were little changed. This is as Dow Jones and S&P 500 futures declined about 0.8% and […]
- Market Week Ahead: Inflation Data, Bitcoin, Powell Testimony, and moreEven though market sentiment started off 2022 on a sour note, there were clear winners and losers on Wall Street. Dow Jones futures declined about 0.1% this past week, while the tech-heavy Nasdaq 100 sank about 4.35% in the worst performance […]
- Market Week Ahead: Monetary Policy Meeting, Retail Sales, etc.The broad US dollar remained under pressure on Friday and will end this week on a bearish note as investors digest the Bank of England’s (BOE) unexpected interest rate hike and the European Central Bank’s (ECB) shift to a more […]
- Markets Week Ahead: Nasdaq 100, US Dollar, Gold, Euro, British Pound, Fed and moreMarket mood recovered this past week around the world. On Wall Street, the Nasdaq 100 and S&P 500 gained 3.82% and 3.65% respectively. Across the Atlantic, the Euro Stoxx 50 and FTSE 100 climbed 2.95% and 2.62% respectively. In the Asia-Pacific region, the Nikkei 225 climbed 0.89% while Australia’s ASX 200 jumped […]
- Market Week Ahead: Omicron Concerns, Inflation Data, CryptoDevelopments around the Omicron coronavirus variant will continue to be the main driver of market sentiment in the week ahead and this news flow, together with a hawkish turn by the Federal Reserve, means Friday’s inflation data will […]