Otmane El Rhazi from
The Bullion Desk.
- The US created 280,000 new jobs in May, significantly above analysts’ estimates of 222,000 and the highest climb in jobs figures seen in months.
- US indicators have increased in importance at the moment as the Federal Reserve specifically identified US jobs data as one of the key factors on its decision when to raise interest rates from near zero.
- The metal is also getting zero support from physical demand; most of the Asian markets have been sluggish,
- Spot gold last seen around $1,165 per ounce, that’s down around $20 since the start of the week and near its lowest in three months.
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