The United States financial markets closed Monday investors have suspended trading to avoid risk
The international gold price end of the Asia Pacific early market fell to high, as the United States decided to temporarily not carry out military strikes in Syria to promote risk preference warming, triggered a gold sell-off.
The US market closed for Labor Day holidays, and market transactions returned to normal on Tuesday.
President Obama said at the weekend that he would first seek congressional authorization before taking military action against Syria. Congress will adjourn this week. Any discussion about Syria will take place after September 9th. This means that the US is unlikely to take military action this week.
The gold market was nervous last week because the United States might have a military attack on Syria because of the Assad administration's use of chemical weapons against domestic opponents. Because it is not clear how the international community may react to any military action in the US, investors have to suspend their trading to avoid risks.
Last Friday, after the British Parliament voted to veto the attack on Syria, investors were selling profits at a high level, leading to a decline in gold prices. Many analysts said traders chose to take profits before the 3 day holiday and take the money out of the field. Some traders may want to extend the Labor Day holiday, the beginning of the week trading or subdued.
The risk of Syria will be delayed for a week, and there is almost no need for worry now.
This week's market attention will turn to a series of US economic data, such as Friday's non farm employment data. If the employment data is good, the Federal Reserve has reason to start reducing the size of bond purchases this month.
The Swiss MKS SA Afshin Nabavi is expected in early September, the head of trading market deliversquiescently. He expects market exchanges to be quiet before the market is released on Friday, with gold prices likely to wander between $1385 and $1425, especially if the United States and its allies do not move to Syria.
Job reports are often important factors that affect the financial market, but this month's report is particularly important because it is the last job report before the September meeting of the FOMC. Because economic data are often mixed, traders will closely follow the data and see if they can find any clues that the Fed will reduce the debt purchase plan. FOMC will hold a meeting in from September 17th to 18th.
Daniel Pavilonis, a senior commodity trader at RJO futures, said that the market would be more confident that the Fed would announce the reduction of QE at the next meeting if the employment data were as expected. He said, "the Chicago purchasing managers index has been built, and the American auto reduction plan helps to improve the situation, and the tax revenue has also increased. If long-term interest rates begin to rise, this will help bank depositors, but I believe that interest rates will have a significant impact on the housing market. In addition, Pavilonis says gold will be weaker this week.