Gold Futures Fall as Strong June Jobs Report Slams Rate Cut Hopes

Gold futures fall as strong June jobs report slams rate cut hopes

Gold Sinks As Blowup NFP Shatters Fed Cut Narrative - Data Intelligence

Gold tumbles 0.80% to $3,332 as robust jobs data lifts US Dollar. Unemployment Rate nears 4%, challenging weak hiring seen in ADP report. Traders now price in only two Fed cuts in 2025, down from 65 bps earlier. Bessent: Fed rate call is theirs; Powell’s successor to be picked in fall. Gold price fell 0.80% on Thursday as a strong US Nonfarm Payrolls report strengthened the US Dollar, leading market participants to believe it unlikely that the F…

MINING METRICS: Strong jobs report shakes gold market

Gold prices pulled back sharply following stronger-than-expected US jobs data—putting the brakes on hopes for a near-term Fed rate cut. To unpack what

U.S. Labor Market Data Hit Gold Prices

Gold prices fell in both local and global markets on Thursday, impacted by stronger-than-expected U.S. labor data that reinforced expectations of continued monetary tightening by the Federal Reserve, according to a report by the "iSagha" gold trading platform.

Gold falls 1% as strong US payrolls data douses rate cut hopes

Gold fell 1% on Thursday as stronger-than-expected US payroll data cemented expectations that the Federal Reserve is unlikely to cut interest rates as early as previously anticipated, denting the metal's appeal. Spot gold fell 1% to US$3,325.48 per ounce as of 1303 GMT, while US gold futures GCcv1 were down 0.7% to US$3,336.