Gold prices fell sharply amid dollar strength following a jobs report showing the US\neconomy created more jobs than expected in January, while signs of wage growth lifted investor\nexpectations for a faster pace of rate hikes. The Labor Department said Friday, U.S. non-farm\npayrolls rose by 200,000 jobs iŶ JaŶuarǇ. That ďeat eĐoŶoŵists’ foreĐasts for ϭ84,ϬϬϬ Ŷeǁ\njobs. While unemployed remained at unchanged on the prior month at 4.1%. BNP Paribas\nrevised upward its assessŵeŶt of Đore PCE iŶflatioŶ, the Fed’s preferred ŵeasure of iŶflatioŶ, to\n2.2% from 2.0% previously, and said it expects the Fed to raise rates four times in 2018\ncompared to the prior estimate of just three hikes.
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economy created more jobs than expected in January, while signs of wage growth lifted investor
expectations for a faster pace of rate hikes. The Labor Department said Friday, U.S. non-farm
payrolls rose by 200,000 jobsi? Ja?uar?. That ?eat e?o?o?ists’ fore?asts for ?84,??? ?e?
jobs. While unemployed remained at unchanged on the prior month at 4.1%. BNP Paribas
revised upward its assess?e?t of ?ore PCE i?flatio?, the Fed’s preferred ?easure of i?flatio?, to
2.2% from 2.0% previously, and said it expects the Fed to raise rates four times in 2018
compared to the prior estimate of just three hikes.
Crude oil prices settled lower as data pointing to signs of rising output weighed on sentiment
while a rebound in the dollar added to downside momentum. The number of oil rigs operating
in the US rose by six to 765, the highest level since Aug. 11, according to data from energy
services firm Baker Hughes. That added to ongoing fears that rising output may weigh on oil
prices as US output reached 10 million barrels per day last week, according to data from the
Energy Information Administration. Also adding to pressure on oil prices was dollar strength on
nonfarm payrolls data showing wage growth improved, fueling expectation for a faster pace of
rate hikes the? is ?urre?tl? pri?ed i? ?ith so?e a?al?sts e?pe?ti?g the Federal Reser?e’s ?dot
plots,? to sho? four rate i??reases for this ?ear rather than the current three rate hikes.
Gold prices fell sharply amid dollar strength following a jobs report showing the US
MCX GOLD APRIL 2018
The above Daily chart of Gold suggests that prices have move up side after breakout
Resistance level. RSI is in buy mode. We expect prices to correct up to levels of 31240
MCX CRUDEOIL MARCH 2018
The above Daily chart of Crude oil suggests that prices have reversed after taking Support level. RSI is
in buy mode. We expect prices to correct up to levels of 3780