LONDON, 2 April 2014 – This week's big US data releases are likely to move gold prices only short-term, says Adrian Ash, head of research at BullionVault, quoted today by MarketWatch, the financial news and views site from the Dow Jones family of companies.
"Gold typically sees frantic trading around the official monthly US jobs data," the report quotes Adrian in London.
But "there's zero correlation between either [Wednesday's] ADP or official [nonfarm payrolls on Friday] with monthly gold prices over the last 3 years," he explains.
"Big moves in non-farms week usually wind up with gold back wherever it was."
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Source:
MarketWatch
