Gold surges past $4,300 as weak US payrolls dampen rate hike bets
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.
Gold Market
Original summaries of the reporting that moves the gold price, with every source linked.
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.