“It’s lower because of what you see are seeing with the dollar in the aftermath of the comments that came out of Jackson Hole,” said Bob Haberkorn, senior commodities broker with RJO Futures.
“There is an uneasiness heading into the jobs report,” Haberkorn said. “We’re going into this jobs report almost with the feel that it’s (as important as) a Fed announcement….If it comes out better than expected, expect gold to probably fall off further with expectations that a rate hike is very likely on the table in September.”
Haberkorn said he personally doubts the Fed would hike next month, but nevertheless added that this is the worry in the market.
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Bob started his career in 2005 as a broker with Lind-Waldock. He is often quoted in industry sources, such as the Wall Street Journal in regards to precious metals and the copper market.