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- Gold price to race higher towards $1900 on NFP disappointment - OCBC
Gold price to race higher towards $1900 on NFP disappointment - OCBC
FXStreet reports that strategists at OCBC Bank suggest that weak Friday's report on U.S. labour market could propel gold (XAU/USD) towards $1900.
“Fed Chair Powell revealed the central bank is likely to begin tapering this year but said little about the pace and timing of how the tapering process might be conducted.”
“Gold closed above $1800 once more on Friday after a two-day hiatus, suggesting interest in gold as an inflation hedge may be returning.”
“We expect gold to possibly head towards $1830 in the near term if the rally continues and possibly to $1900 if this Friday’s job report disappoints.”
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