Saudi Arabia Stocks Down 1.58% as Tadawul All Share Falls
October 7, 2024Silver (XAG) Price Prediction: Bearish Trend Emerges, Potential Drop Below $30.88 Looms
October 9, 2024This past week, the US released various employment reports, with the ADP report showing a 143K increase in private sector jobs for September 2024 and the Nonfarm Payroll (NFP) report indicating a rise of 254K new jobs. Unemployment dropped to 4.1%, leading to a surge in the US dollar. Gold and Silver prices consolidated, while AUD/USD declined due to the stronger dollar. Market movements are expected to be influenced by the upcoming release of FOMC meeting minutes, September CPI and PPI data. Despite the strong dollar, gold and silver exhibit consolidation patterns hinting at a potential bullish setup ahead of the inflation data releases.