Gold stays weak amid US-Iran stalemate and hawkish Fed risk
Gold has been volatile this week due to US-Iran headlines. Yesterday’s rally faded as no deal was reached.
The negotiating deadlock has been ongoing, keeping oil prices elevated and increasing the risk of a hawkish Fed.
The US NFP report is due today, with focus on the unemployment rate, expected to remain unchanged at 4.3%. A drop to 4.2% or lower could trigger a gold selloff, while a 4.4% rate or higher might give gold a short-term boost.