Gold Prices Steady After Major Sell-Off Amid China and U.S. Economic News Gold prices remained steady on Monday after experiencing the largest drop in three and a half years on Friday due to China’s central bank halting its gold purchases and a strong U.S. jobs report diminishing hopes of an imminent interest rate cut. Spot gold was stable at $2,296.17 per ounce, while U.S. gold futures dipped 0.5% to $2,313.30. The significant decline on Friday, a 3.5% drop, followed 18 months of continuous buying by China and unexpectedly strong U.S. employment data. Market expectations for a September rate cut by the Federal Reserve fell from 70% to 50%. The Fed’s upcoming policy meeting and U.S. inflation data will be closely watched. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Gold Prices Soar to New Heights Defying Critics READ MORE China's Gold Appetite Returns: New Import Quotas Signal Market Shift READ MORE Gold Edges Higher as Markets Price in 93% Chance of September Fed Rate Cut READ MORE Economic Slowdown and Rising Inflation Cast Doubt on Soft-Landing Prospects READ MORE High-Income Americans Not Immune to Growing Financial Worries READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment