08.06.2020 Gold Daily Analysis

08.06.2020 Gold Daily Analysis

Gold starts the week with a bang. Gold was up at the early hours of the day in the Asia market, recovering from losses from the previous session. The Gold Futures were up by 0.6% at $1,693.15 at the start of the day. Stocks were also up today. Investors are retreating from the safe-haven yellow metal during the past session after the US Labor Department published an employment record that surpassed the expectations of Friday. Non-farm payroll increased by 2.5million against a projected 8-million decrease and the jobless rate for May was 13.3% down from April 14.7% Investors should focus on the US Federal Reserve two day policy meeting that is set to begin on Wednesday clues on further stimulus measures and the policy rate.