I have been expecting a bit more at the move in gold in Asia on Monday 9/8/21 morning.
What trigger the initial move lower in gold on Friday 6/8/21?
Better than expected nonfarm payrolls rose by 943,000 in July, better than the 845,000 Dow Jones estimate.
The unemployment rate slide to 5.4%, compared with the 5.7% expectation.
Job gains came fastest in many different business sectors in the United States.
As US dollar firmed, gold slipped lower, triggering stop-loss selling, which caused gold to slipped lower, triggering more stops until the selling was depleted on Monday 9/8/21.
August could be the opportunity to position for the September historic strong month for gold which investors might use the low gold price opportunistically. Recent commentary out of the Fed and ECB suggests the US and possibly other countries may place less emphasis on inflation and more on employment which could prolong tapering activity
September has been a historic strong month for gold which investors might use the low gold price opportunistically.