{"id":134045,"date":"2024-10-07T08:22:51","date_gmt":"2024-10-07T08:22:51","guid":{"rendered":"https:\/\/kinesis.money\/?p=134045"},"modified":"2024-10-07T08:22:51","modified_gmt":"2024-10-07T08:22:51","slug":"gold-ends-lower","status":"publish","type":"post","link":"https:\/\/kinesis.money\/zh-hans\/market-analysis\/gold-news\/gold-ends-lower\/","title":{"rendered":"Gold Price News: Gold Ends Slightly Lower on Friday"},"content":{"rendered":"\n

Gold prices saw a volatile day on Friday, with prices ending the day marginally lower, capping a slightly bearish week for the precious metal overall.<\/p>\n\n\n\n

Prices fell as low as $2,633 an ounce<\/a> by early Friday afternoon before bouncing back to trade at around $2,654 an ounce later in the session, little changed from around $2,656 an ounce in late trades on Thursday.<\/p>\n\n\n\n

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KAU\/USD 1-hourly Kinesis Exchange<\/figcaption><\/figure>\n\n\n\n

The US non-farm payrolls figures for September came out on Friday at 254,000 — way above market expectations of 140,000, while the unemployment rate for September came in at 4.1%, slightly below expectations of 4.2%. Taken together, the jobs figures suggested a stronger than expected labour market in the US, which in turn would indicate less pressure on the US Fed to cut interest rates in the near-term.<\/p>\n\n\n\n

The US Fed\u2019s 50-basis point interest rate cut on September 18 and heightened geopolitical risk due to conflict in the Middle East have served to support gold prices in recent days, so any doubts over further interest rate cuts could weigh on the precious metal\u2019s price.<\/p>\n\n\n\n

Despite the within-day volatility on Friday, gold has been resilient, trading a few dollars either side of $2,650 an ounce through the week. This relative stability comes on the heels of gold\u2019s all-time high of $2,686 an ounce on September 26.<\/p>\n\n\n\n

Looking ahead, Monday is looking light on data releases, although the markets will be watching out for a round of speeches by US Fed officials on Monday and Tuesday for hints about upcoming interest rate decisions that could affect the gold price.<\/p>\n\n\n\t\t\t

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Frank\u2019s experience<\/a> covering the commodities markets spans 22 years, with a particular specialism in metals, carbon and energy markets.\u00a0<\/em>He has worked as a senior editor for S&P Global Commodity Insights\u00a0(formerly Platts) and before this, at ICIS-LOR, a part of Reed Business Information (Reed Elsevier), where he covered the petrochemicals markets from 2003 to 2005.<\/em><\/p>\n

This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.<\/i>
\n<\/i><\/p>\n

Read our Editorial Guidelines\u00a0<\/i>here.<\/a><\/i><\/p>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t","protected":false},"excerpt":{"rendered":"

Gold prices saw a volatile day on Friday, with prices ending the day marginally lower, capping a slightly bearish week for the precious metal overall.<\/p>\n","protected":false},"author":50,"featured_media":134077,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[215,91],"tags":[],"class_list":["post-134045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-news","category-market-analysis"],"acf":[],"yoast_head":"\nGold Ends Slightly Lower on Friday | Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' gold price news analysis for today, Monday 7th of October 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"zh_CN\" \/>\n<meta property=\"og:type\" 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