Gold Price May Weaken on US Policy Shift Expectation


Spot gold prices on Friday (6/8) may continue to experience pressure due to the statement of the opportunity for tapering US monetary policy at the end of the year by the Deputy Governor of the US Central Bank, Richard Clarida.

"In addition, the weekly US unemployment benefit claims data released last night, which was lower than the previous week, also added pressure to gold prices," said Commodity Observer Ariston Tjendra in Jakarta.

As for tonight, the market is waiting for important US economic data, the government's version of the employment data.

The Fed indicated that improving employment data would be a consideration for monetary tightening.

"If so, the price of gold could be depressed more deeply. This labor data will add to the volatility of today's gold price movements," he said.

The gold price has potential for weakening to the area of US$1,780 per troy ounce with the potential for strengthening


Penulis : Widya