Gold Surges as Weak US Jobs Data Fuels Rate Cut Expectations The US jobs report for July 2024 showed weaker-than-expected hiring and a rise in unemployment, suggesting a cooling labor market. This data has strengthened expectations for the Federal Reserve to cut interest rates soon, causing Treasury yields and the dollar to fall. As a result, gold prices surged, approaching the all-time high set last month. The precious metal’s appeal as a non-interest-bearing asset typically increases when interest rates are expected to decline, explaining its strong performance in response to the jobs data. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Government Says, Inflation in December Was Even Lower Than First Reported READ MORE Silver Will Be GONE In The Blink Of An Eye…There's A LOT LESS Than People Think! READ MORE Gold and Silver Set to Soar? Impact of Interest Rate Cuts Explained | Tavi Costa & Alan Hibbard READ MORE China's Central Bank Maintains Gold Holdings Amid High Prices READ MORE Silver: "It's Time To BUCKLE UP" READ MORE Add a Comment Cancel replyYour email address will not be published.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