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.
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Gold Market News
Original summaries of the reporting that moves the gold price, with every source linked.
NY Fed survey shows short-term US inflation expectations eased in July
American households lowered their one-year inflation expectations to 3.6% in July, while medium- and longer-term forecasts remained unchanged, according to the Federal Reserve Bank of New York.
US Dollar Softens as July Payrolls Miss Federal Reserve Expectations
The US dollar fell following a weaker-than-expected July payrolls report, leading investors to reduce expectations for Federal Reserve interest rate increases ahead of key inflation figures.
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.
Why central bank buying now sets the floor under gold
Official sector demand has moved from a rounding error to a structural pillar of the gold market.
Weak US payrolls weigh on dollar as Fed rate hike hopes recede
A surprising contraction in July US non-farm payrolls has weakened the dollar and lowered expectations of a September Federal Reserve rate hike.
How the London gold benchmark is set, and why it matters
Twice a day, a short electronic auction produces the number that prices most of the world's physical gold. Here is how it works.