Gold and silver rally as NFP miss dents Fed-hike bets | Metals Mine

  • Gold and silver rally as NFP miss dents Fed-hike bets

    From kitco.com

    Spot gold and silver prices are sharply higher after Thursday’s June employment report, as a weaker-than-expected payrolls print pressured the U.S. dollar and cooled near-term Federal Reserve tightening expectations. At the time of writing, spot gold was trading near $4,123.80 an ounce, up 2.28%, while spot silver was trading near $61.052, up 3.27% on the session. The June payrolls report shifted positioning back toward a softer Fed path. Nonfarm payrolls rose 57,000 in June, well below the 115,000 consensus, while unemployment fell to 4.2% and April-May payrolls were revised down by a combined 74,000. The data was ... (full story)

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