Di United States Bureau of Labor Statistics go release July Nonfarm Payrolls (NFP) data for Friday at 12:30 GMT. Dis na di main event wey market people don dey wait for, because e go affect gold and silver prices today.
Analysts dey expect NFP to rise by 80,000. But make we no forget, June result na 57,000, wey no reach wetin dem hope for. So di difference bin get many people dey talk.
Na poor NFP data wey make US Dollar weak. Since dollar don fall, Cable, wey be GBP/USD, don gain extra traction. Investors dey look di latest data and dey adjust dia positions.
Gold and silver, dem dey follow dollar movement. When dollar weak, gold and silver dey shine. When dollar strong, dem dey dull. So di nonfarm payroll figure go be like pointer for direction.
Di market dey expect sharp movement. Some traders dey set dia stop loss tight. Others dey add more positions. All eyes dey on di NFP release.
Dis number go determine how market go take move. E no go be only gold and silver wey go move; even currencies and stocks fit feel am. But today, di main interest na for gold and silver markets.
