SMM News: the gold market experienced the impact of non-farmers last week, this week continued to fluctuate slightly, consolidation around 1930 US dollars / oz.
(Commerzbank), the German commercial bank, said investors might want to turn their attention from the non-farm report to US CPI data on Friday.
Last week's august non-farm report showed that the u.s. unemployment rate fell to 8.4%, which will put pressure on gold in the short term. But the bank said US CPI data to be released on Friday might provide long-term momentum for gold.
In addition, although the unemployment rate of 8.4% has improved from previous months, it is still much higher than before the epidemic.
The bank pointed out that the Fed said it will not automatically raise interest rates because of low unemployment, but also depends on the performance of inflation.
"this means that the performance of the job market will not do much to change Fed policy, especially as the rate of job creation is slowing."
In response to this week's inflation data, the bank pointed out that if inflation continues to rise, real interest rates will fall even lower.
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