Loading…
Spot gold rose 0.7% to $1,696.79 an ounce after a steep prior-session fall, helped by hopes for dovish Fed policy. Bullion had dipped to a one-month low after a surprise rise in U.S. employment.
Traders stopped pricing in negative interest rates after the jobs report.
Lower real rates support gold, but the link to feed grain prices is limited. The move mainly reflects shifting rate expectations and risk appetite.
brecorder.comReutersJun 8, 2020After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
