Gold price extends rebound near $1,850 amid renewed Middle East conflict. Further upside could be capped amid resurgent haven demand for the US Dollar. Gold price rebounds but not out of the woods yet, as technicals remain bearish. ction to the weekend’s news of the Middle East conflict that spooked investors and triggered a flight to safety across the financial markets.
The headline NFP data showed a surprise increase of 336,000 in September, compared with a 170k job gain expected and the revision 221k figure. However, Average Hourly Earnings rose 4.2% YoY in September, at a slightly slower pace than August’s 4.3% rise. Unemployment Rate unexpectedly steadied at 3.8% in the reported month.
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