Gold rises as traders await US payrolls data
In short
Gold went up on Thursday after its biggest one-day jump since August. The report says a weaker US dollar and the reaction to the US midterm elections helped push prices higher.
Investors are now watching the US non-farm payrolls report for clues on the Federal Reserve.
What the reporting says
Gold rose on Thursday after the metal posted its biggest daily gain since August. The move followed a weaker US dollar and continued reaction to the US midterm elections, while investors looked ahead to the non-farm payrolls report for clues on Federal Reserve policy. The reporting adds that Citi sees gold benefiting if geopolitical tensions ease, but no new forecast details are provided.
Why it matters
Gold prices moved higher after a weaker dollar and the aftereffects of the US midterm elections supported the metal. Market attention is now on the upcoming non-farm payrolls report, which could affect expectations for Federal Reserve policy.