Everbright Futures: Gold Volatility Intensifies Ahead of Non-Farm Payroll Data Release

Overnight, the London spot gold market declined, with COMEX gold futures down 0.81% and SHFE gold down 1.35%. The US-Iran conflict continues, and risk aversion sentiment has not yet subsided. Tonight, the U.S. Department of Labor will release the February non-farm payroll data, expected to be 55,000 jobs, compared to 130,000 in January. The lower forecast may be due to AI automation and recent sharp increases in oil prices causing inflation concerns. Changes in interest rate cut expectations could also trigger increased gold volatility. Additionally, attention will be on tonight’s U.S. January retail sales month-on-month and February unemployment rate data. (Everbright Futures)

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