Weakening US jobs data shifts focus back to Fed mandate
A surprise drop in US nonfarm payrolls and lower participation rates have highlighted fresh economic weakness, prompting analysts to re-evaluate the Federal Reserve policy outlook.
Gold Market
Original summaries of the reporting that moves the gold price, with every source linked.
A surprise drop in US nonfarm payrolls and lower participation rates have highlighted fresh economic weakness, prompting analysts to re-evaluate the Federal Reserve policy outlook.
EUR/USD traded near seven-week highs around 1.1562 on Friday as a soft US payrolls report weakened the dollar ahead of key inflation data next week.
Gold prices climbed above $4,300 per troy ounce following a contraction in US jobs and a decline in the dollar, with attention turning to upcoming CPI data.
Gold rose over 2.3% on Friday to trade at $4,340 after US employment figures showed a contraction of 23,000 jobs in July, dampening expectations of Fed interest rate hikes.
A surprising contraction in July US non-farm payrolls has weakened the dollar and lowered expectations of a September Federal Reserve rate hike.
Official sector demand has moved from a rounding error to a structural pillar of the gold market.
Twice a day, a short electronic auction produces the number that prices most of the world's physical gold. Here is how it works.