05-11-2018 03:15 PM
Gold prices dropped while the dollar was unaffected on Monday as traders scheduled the U.S. mid-term elections and the Federal Reserve’s November meeting due later this week.
The U.S. Fed will begin its two-day meeting on Wednesday, with markets look forward to no change to interest rates at the forefront of an extensively expected rate hike in December.
Gold prices dropped lower on Friday as the dollar pushed higher subsequent the release of a stronger-than-expected U.S. jobs report for October.
Official data released on Friday exposed that U.S. jobs growth rebounded in October and wages witnessed their largest annual gain in 9-1/2 years.
According to Mr.Ponmudi, Market expert & Managing Director at Enrich Commodities - "The jobs statistics has reaffirmed the dollar's strength due to the rates degree of difference aspect going forward. The market may be at risk with the hawkish fed report."