Fundamental analysis
04 October, 2021
Gold prices edged down on Monday, with a firmer dollar dimming bullion’s appeal, as investors eye a key U.S. jobs report later this week that could influence the Federal Reserve’s timeline for tapering its asset purchases. The dollar index, was up 0.1%, rebounding from its lowest level since Sept. 29 hit earlier, making gold more expensive for buyers holding other currencies. Investors now await U.S nonfarm payrolls data due on Friday, which is expected to show an addition of 460,000 jobs in September, according to a Reuters poll of economists. Providing some support to safe-haven bullion, however, were concerns over the broader economic impact of Chinese property developer Evergrande’s debt crisis which weighed on risk sentiment.
