The Traderszone Network

Published in TZ Latest News 6 August, 2015 by The TZ Newswire Staff

Traders have disappeared from the gold market

Gold futures in New York were mostly little changed in New York on Thursday as traders proved reluctant to make a move before a U.S. jobs report due on Friday. A gain for employment could push the Federal Reserve to tighten monetary policy sooner, cutting the appeal of bullion because it doesn’t pay interest. The declines in volatility show that the “market isn’t that interested” in gold as “fewer people are trading it,” Tai Wong, the director of commodity-products trading at BMO Capital Markets Corp. in New York, said by telephone.