Gold slips near $4,390 after jobs data lifts Fed hike odds
Gold fell to around $4,390 an ounce on Monday after stronger-than-expected US jobs data pushed bond yields higher. Nonfarm payrolls rose 162,000 in August; unemployment held at 4.1%.
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Gold fell to around $4,390 an ounce on Monday after stronger-than-expected US jobs data pushed bond yields higher. Nonfarm payrolls rose 162,000 in August; unemployment held at 4.1%.
Markets focus on U.S. inflation data due Friday for clues on the likely path of U.S. Federal Reserve rate decisions after stronger-than-expected jobs data last week.
Platinum futures rose above $1,800 an ounce after climbing from a two-week low. The move followed dovish comments from Fed Governor Christopher Waller and a weaker US dollar. Investors turn to US jobs data.
Gold prices fell more than 1% to around $4,375 an ounce Tuesday, pressured by elevated US Treasury yields. Traders look to US labor-market data for clues on the Fed’s path, with rate-hike odds near-term.
The Hang Seng Index fell 1.1%, or 250 points, to 25,323 on renewed risk aversion. US-Iran tensions lifted Brent crude and Treasuries yields, while markets leaned toward a September US rate hike. China PMI data was mixed.
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Silver edged higher above $68 an ounce Thursday ahead of Federal Reserve Chair Kevin Warsh’s Jackson Hole speech. Hotter-than-expected US inflation and global debt concerns underpin demand; PCE rose 3.7% y/y in July.
New Zealand dollar slips to $0.587 as US dollar edges higher
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