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GOLD: Powell’s Caution on Rates Cools Gold’s Rise.

GOLD
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  • Having enjoyed a ‘safe haven’ bid yesterday during the South Korean turmoil, Gold took a breather today following Fed Chairman Powell’s Comments.
  • Chairman Powell indicated that Fed Officials will ‘move cautiously’ on rates, prior to this week’s non-farm payroll.
  • Gold opened the trading day in Asia at US$2,649.90 only to moderate to $2,647.10.
  • Tonight, in the US sees Initial Jobless Claims and Continuing Claims, both of which are considered a pre-cursor to the NFP.
  • In Europe, the political turmoil currently gripping France could provide support to gold overnight. 
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  • Having enjoyed a ‘safe haven’ bid yesterday during the South Korean turmoil, Gold took a breather today following Fed Chairman Powell’s Comments.
  • Chairman Powell indicated that Fed Officials will ‘move cautiously’ on rates, prior to this week’s non-farm payroll.
  • Gold opened the trading day in Asia at US$2,649.90 only to moderate to $2,647.10.
  • Tonight, in the US sees Initial Jobless Claims and Continuing Claims, both of which are considered a pre-cursor to the NFP.
  • In Europe, the political turmoil currently gripping France could provide support to gold overnight.