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Analyst: Dollar Rebound Strengthens Pressure on Gold and Silver Prices, Downward Pressure May Persist
BlockBeats News, February 5th. Influenced by the strengthening US Dollar, both gold and silver fell during the Asian trading session. Fawad Razaqzada, FOREX's global macro analyst, pointed out that a strong US Dollar often serves as a resistance to the precious metals' prices. He stated: "If this Dollar rebound is not just a flash in the pan, it could continue to exert pressure on the gold price."
Razaqzada added that the market is currently shifting its focus to the delayed release of the US official employment report. Due to the partial federal government shutdown's impact, the January non-farm payrolls report, originally scheduled to be released on Friday, has now been rescheduled to February 11th (Wednesday). (FXStreet)
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