Gold Investors are Waiting for Friday

Gold investors are waiting for Friday. US nonfarm employment data will be released on Friday.

Gold started the day with a sideways movement as investors focused on the US non-farm employment data, which is expected to be released on Friday. Gram gold, on the other hand, followed the decline in USD/TL exchange rate. Data released in the US on Wednesday gave inconsistent signals regarding the direction of the economy. While ADP employment data reveals that companies are hiring much less than expected, the ISM's report shows that manufacturing recovered stronger than expected in August. Employment is at the top of the data that the FED (US Federal Reserve) focuses on for the asset purchase reduction calendar. Fed Chairman Jerome Powell also said in his speech last week that the reduction in asset purchases could begin this year, with the employment market showing a remarkable improvement. Kotak Securities Senior Analyst Madhavi Mehta stated that the future non-farm employment data, which is stronger than expected, will support the US dollar and put pressure on gold prices.