Spot gold has remained stable above the $2,500/oz mark this week, supported by steady central bank buying, yet facing risk from upcoming macro data.
The quiet macro data this week suggests that gold's relative stability could shift, depending on the upcoming US employment report that may influence market sentiment.
Gold prices reflect a complex balance; strong central bank buying pushes prices up, but a hawkish market response to employment data could hinder further gains.
For gold enthusiasts, a weak jobs report could trigger a significant surge, as it may encourage the market to anticipate a 50bp cut in September.
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