Gold and silver steady before NFP as payrolls risk caps rebound

Spot gold and silver are modestly firmer as traders covered shorts near key support, but a firmer U.S. dollar and higher Treasury yields have limited the rebound ahead of Thursday’s June employment report. The move looks more like positioning adjustment than a fundamental breakout, keeping upside capped into the jobs data.

Analysis

Spot gold and silver are modestly firmer as traders covered shorts near key support, but a firmer U.S. dollar and higher Treasury yields have limited the rebound ahead of Thursday’s June employment report. The move looks more like positioning adjustment than a fundamental breakout, keeping upside capped into the jobs data.