| Citi Research cautions that gold could fall some more in the coming days after Friday’s stronger-than-forecast U.S. employment report showing 255,000 new jobs in July.
Gold prices fell immediately after the report as the U.S. dollar rose and traders factored in an increased possibility of a Federal Reserve rate hike. In past years, negative moves in gold post payrolls have tended to fade in the days following the data print, as shown by average cumulative returns of 0.5% in the three days following NFP Fridays on which gold returns were negative from 2004 to present, Citi added...............................................Full Article: Source
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