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 More Americans Apply for Unemployment Benefits But Layoffs Still Historically Low READ MORE Fed Hints at Possible September Rate Cut READ MORE Morgan Stanley Warns: Digital Currencies May Challenge US Dollar's Reign READ MORE Inflation Fears Spark Rally in Gold and Oil, Casting Doubt on Fed's Strategy READ MORE U.S. Job Openings Decline in November, Indicating Labor Market Shift READ MORE Add a Comment Cancel replyYour email address will not be published.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