Payrolls To Test Gold’s Resilience After The Recent Gains!

Gold has made gains in the last few weeks. The NFP report release also known as the Non-Farm Payroll will test whether gold rally will continue or not. Many analysts think that the NFP Report will fall short of expectation confirming FED in its stance to keep the interest rates almost zero. This will lift gold prices up and make USD weaker.

Last month, U.S. first-quarter economic growth was revised sharply down, with gross domestic product (GDP) falling at a 2.9 percent annual rate – its worst performance in five years. As such, this week’s payrolls data need to show “an equally large positive surprise” to spur a revival in economic optimism, said Anthem Blanchard, founder, president and CEO of Anthem Vault, a U.S.-based online precious metal retailer.