TeleTrade - Analytics

TeleTrade

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02.12.2015 06:41 Gold traded slightly higher

Gold is currently at $1,067.30 ( 0.36%) still supported by short covering, however its outlook remains bearish as investors are preparing for the key U.S. jobs report due on Friday and a Federal Open Market Committee meeting later in December. Strong employment data would raise the probability of a rate hike and decrease demand for the non-interest-paying precious metal.

The dollar weakened slightly after disappointing manufacturing data; however bullion outlook is still driven by expectations of an imminent rate hike in the U.S.



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