Slight price gains in gold; markets pause ahead of U.S. jobs data

(Kitco News) - Gold prices are slightly up in early U.S. trading Thursday. It's been a quieter trading week on this unofficial last week of summer. However, Friday morning's U.S. employment situation report from the Labor Department could cause some volatility in markets. The August non-farm payrolls component of the jobs report is expected to see growth of 720,000 workers compared to a rise of 943,000 non-farm jobs in July. October gold futures were last up $1.90 at $1,815.70. December Comex silver was last up $0.009 at $24.23 an ounce.

Global stock markets were mostly firmer overnight. The U.S. stock indexes are pointed to firmer openings when the New York day session begins, with S&P 500 and Nasdaq futures at record highs. As the "summer doldrums" end next Tuesday when traders and investors come back to work after a three-day U.S. holiday weekend, focus may become keener on elements that could be unsettling for the market place, such as the surge in Covid cases, China's government crackdown on its businesses that it says are making too much money, and North Korea's nuclear program.

In overnight news, the Euro zone July producer price index came in hot, at up 2.3% from June and up 12.1%, year-on-year.

golden bull market (cover) by niphon is licensed under Adobe Stock

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