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Gold Drops After Strong Jobs Number Makes Early Fed Cut Unlikely
Gold dropped after strong US jobs data took the pressure off the Federal Reserve to lower interest rates at the end of this month. Gold fell as much as 1.4% after trading in a narrow range for most of the day. Payroll numbers came in above analyst expectations, while the unemployment rate was lower than forecast. The dollar rose along with Treasury yields, as traders pared the already slim odds of a cut at the Fed’s July meeting. Higher rates typically weigh on gold, which doesn’t bear interest. “The big question was the unemployment rate,” said Gregory Faranello, head of US rates trading and strategy for ... (full story)
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- Jul 3, 2025 5:30pm Posted byFundamental Analysis222
