Gold Trading Pauses as Investors Anticipate Jobs Report

Although trading in the futures markets for precious metals is closed for Good Friday, market participants are eagerly awaiting the release of the Labor Department's non-farm payroll jobs report for March. The report will provide insight into the economy and inflation, and potentially indicate the Federal Reserve's upcoming moves regarding interest rates. Economists are forecasting 238,000 jobs were added in March, which would be a decline from February's report. Strong job growth is viewed positively, but the Federal Reserve regards a contracting labor market as an obstacle in their fight to reduce inflation. Gold has declined as traders take profits, but there is no resistance until $2069, the highest closing price for gold futures on record.