|Day's range||1,671.70 - 1,723.20|
Peer-to-peer bitcoin transactions are up in the developing world. This has everything to do with "QE Infinity" and could be an opening for stablecoins.
Investors' penchant for risk is honed on the hopes of an economic salvage, resulting in a gold price dip for the third consecutive week.
This was exacerbated by a better than anticipated jobs number in the United States. That is an area that is obviously psychological in nature and has been a significant support and resistance barrier.
The British pound has rallied significantly during the week and what can only be described as a parabolic break out.
The Euro has rallied rather significantly during the week but seems to be running into trouble near the 200 week EMA.
WTI oil gets closer to $40 per barrel as traders expect that OPEC+ will extend current production cuts by at least one month.
Today and next week the S&P; 500, market sentiment, volatility, Put/Call Ratio have created the perfect storm for blow-off top and reversal.
The US dollar has rallied a bit during the trading session on Friday, perhaps mainly in reaction to the jobs number which came out much better than anticipated
The British pound has taken out to the upside again during the trading session on Friday after a better than anticipated jobs report.
Silver is losing ground as demand for precious metals decreases as traders bet on a robust recovery from the coronavirus crisis.
Physical gold dealers in India offered the highest discounts in about two months this week as customers kept away with coronavirus cases in the country continuing to mount, while Singapore saw steady safe haven demand. In thin volume trade, discounts of up to $32 an ounce were offered over official domestic prices in India, the highest since early April. The domestic price includes a 12.5% import and 3% sales tax.
Gold is trading 1.8% lower this morning following better-than-expected U.S. economic data releases.
The direction of the EUR/USD on Friday is likely to be determined by trader reaction to 1.1334.
Mohammed Haider, a security worker in Iraq's southern oilfields, thought he was safe after signing a new one-year contract to guard oil facilities. Haider had been hired to drive vehicles for a British security firm around the giant West Qurna 1 oilfield that produces hundreds of thousands of barrels of crude each day - part of OPEC member Iraq's principal source of wealth. Haider is one of thousands of workers in Iraq's oil sector who were laid off this year after a fall in oil prices caused by the COVID-19 pandemic, and who struggle to find any other source of income.
S&P; 500 futures are gaining ground in the premarket trading session after better-than-expected unemployment rate and non farm payrolls reports.
Gold ETFs report record inflows during the January-May period as investors continue to pile onto the metal seen as a safe haven during turbulent times.
As Great Lockdown was positive for the gold prices, the Great Unlock will be bad, right?
A shutdown of production facilities over the weekend could spike prices higher on Monday.
The best thing for short-term gold traders to do at this time is to wait for a pullback into a value area like $1621.90 to $1582.40.
Iraq, which had one of the worst compliance rates in May according to Reuters, agreed to the additional pledge, OPEC sources said.
The research explores how "central banking for all" via digital currency could affect commercial banks.
The EUR/USD has rallied towards 1.1390 zone after yesterday’s ECB. The EUR/USD has rallied for a ninth consecutive day.
Spot gold slid 2% to $1,675.70 per ounce at 11:08 a.m. ET (1508 GMT). U.S. gold futures fell 2.8% to $1,678.40. "We had significantly stronger-than-expected U.S. payroll numbers - an increase of 2.5 million versus an expectation of a decline of 7.5 million - that 10-million swing has brought forward expectations of the economic recovery in the United States," said Bart Melek, head of commodity strategies at TD Securities.