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Gold Rallying Over Trump Spending Bill Concerns
Looking ahead, traders will be watching incoming US jobs data with the ADP print due today and the NFP tomorrow. Yesterday, a stronger than expected JOLTS figure caused some giveback in gold as USD firmed a little. Near-term, rate cut chances are still very much alive after Powell’s Sintra comments yesterday. As such, any weakness in the headline data tomorrow should see gold prices rallying sharply as USD falls on an uptick in July rate cut pricing. The market is currently pricing just 20% likelihood of a cut this month. However, if that figure jumps following tomorrow’s data, this could be firmly bullish for ... (full story)
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- Jul 2, 2025 6:02am Posted byTechnical Analysis285
