Unemployment Rate Drops. Will It Drag Gold Down?

From sunshineprofits.com

The U.S. labor market improved in August, although headlines paint too rosy a picture. What does it all mean for the gold market? Great news for the U.S. labor market: according to the BLS, the American economy regained 1.4 million jobs, while the unemployment rate fell below 10 percent for the first time in the pandemic era! To be more precise, the unemployment rate declined from 10.2 percent in July to 8.4 percent in August, as the chart below shows. Importantly, the fall in the unemployment rate was bigger than expected - and it was accompanied by an increase in the labor-force participation rate, from 61.4 to ... (full story)