Gold Market
Gold dropped more than 0.4% on Monday after Friday’s US jobs report beat expectations, boosting bets that the Federal Reserve will raise interest rates again. Markets now price a 60% chance of a move in September.
Gold opens the week near $4,400, caught between rate hike fears from strong US jobs data and support from a stable dollar. Technical indicators suggest consolidation.
Gold extended its weekly losses on Friday, falling another 0.80% as the US dollar and bond yields rose on bets that the Fed could raise rates in September.
Gold price jumped more than 2% on Thursday after Fed Governor Christopher Waller signalled he would support keeping rates unchanged if disinflation continues. Mixed US data and a weaker dollar added to the rally.
Spot gold rose 1.1% to $4,434.70 on Thursday as the US dollar and Treasury yields slipped. Markets await Friday's nonfarm payrolls data for clues on the Fed's next rate move.
Gold prices held steady in early Asian trade on Thursday as investors awaited US nonfarm payrolls data that could influence the Federal Reserve's next policy move.
Gold and silver prices rose for a second straight session on MCX as the US dollar weakened and bond yields eased. Investors now await US nonfarm payrolls data.
Gold has climbed back above $4,300 after a sharp 2.7% fall, helped by a pullback in Treasury yields, though rising Fed rate-hike bets and a firmer dollar cap the rebound.
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.