The gold market has been fairly quiet Thursday with trading volumes being “ominously low,” but analysts from Triland Metals note that traders appear to be waiting for Friday’s February jobs report. “Friday’s U.S. employment report could help to fine-tune the timing for the U.S. rate hike…” they say. They add that there is a risk of lower prices move lower in the near term. “There is a very strong feeling that repeated demand sub $1,200 may be running out of ammunition as bounces from this area are becoming ever so shallower,” they say.
