Gold Consolidates Amid Uncertainty After NFP, Eyes US Inflation Data

Gold choppy after NFP, US inflation data up next

Gold choppy after NFP, US inflation data up next

It’s been a choppy couple of weeks for gold which appears to have consolidated again, this time in the $1,900-$1,940 range. There hasn’t been any particularly good news for the yellow metal of late and Friday’s jobs report seemingly gave with one hand and took with the other.

Perhaps Wednesday’s inflation data will change that but for now, gold traders appear quite uncertain about what lies ahead and therefore what it ultimately means for the yellow metal. They aren’t giving up easily but a hotter inflation number could change that.

Craig Erlam

Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.

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gold nfp yellow metal consolidation US Inflation Data uncertainty jobs report choppy $1 gold traders 900-$1 940 range hotter inflation number

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Gold choppy after NFP, US inflation data up next

Craig Erlam

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