Kitco - Gold Hits Two-Month Low On Stronger Dollar, Jitters Ahead Of Jobs Data

August 31, 2016 7:26AM CDT

“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.

To read the full article with Bob's comments, please visit www.kitco.com

RJO Futures | 222 South Riverside Plaza, Suite 1200 | Chicago, Illinois 60606 | United States
800.441.1616 | 312.373.5478

This material has been prepared by a sales or trading employee or agent of RJO Futures and is, or is in the nature of, a solicitation. This material is not a research report prepared by RJO Futures Research Department. By accepting this communication, you agree that you are an experienced user of the futures markets, capable of making independent trading decisions, and agree that you are not, and will not, rely solely on this communication in making trading decisions.