US Non-Farm Payroll Data Released, Gold Falls Sharply!
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Critical non-farm employment data released in the United States sent strong winds to the gold markets. The data, which rose by 162,000, well above market expectations, reinforced expectations that the US Federal Reserve (Fed) could continue its tightening steps. Gold prices fell sharply.
Gold prices experienced a sharp decline after the US non-farm payrolls data came in better than expected. The price of gold per gram fell by more than 120 Turkish Lira, while the price per ounce dropped by more than $80.
Following the release of stronger-than-expected August employment data in the US, market attention has turned to the Fed's interest rate decision. Economist Dr. Sefer Humar assessed the impact of the strong employment data on gold, the dollar, and the Istanbul Stock Exchange, delivering critical messages for investors.
Gold prices fell sharply after US non-farm payroll data for August came in much stronger than expected. The expected increase in farm employment was 53,000 people...
The US Department of Labor released its August non-farm payrolls data. Employment came in at 162,000, surprising markets and exceeding expectations of 55,000. Following the strong employment figures, expectations increased that the Fed will continue its tight monetary policy, causing the dollar index to rise and gold and silver prices to experience sharp losses exceeding 2%.
The fact that non-farm payrolls in the US increased significantly more than expected in August triggered a sharp sell-off in gold prices. Gold, which was around $4,469 per ounce before the data release, fell below $4,390 after the announcement.
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