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Gold rallies past $4,100 as weak US payrolls sink dollar and temper Fed hike bets
Gold rose as the US Dollar slid after a weaker US Nonfarm Payrolls report, with XAU/USD trading around $4,120, up nearly 2.20% on the day. The US Dollar Index (DXY) fell to about 100.75, a two-week low, while speculation about possible action from Tokyo followed the JPY hitting a 40-year low earlier in the week. US data showed 57K jobs added in June versus 110K expected; May payrolls were revised to 129K from 172K. The Unemployment Rate eased to 4.2% from 4.3%, while Average Hourly Earnings rose 0.3% MoM and 3.5% YoY. Rate expectations shifted after the release, with the CME FedWatch Tool putting the probability of a ... (full story)
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From thegoldforecast.com | 18 hr ago
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