Gold Rallies on Mixed US Employment Report, Fed Rate Cut Hopes Grow Gold prices reached a one-month high following the release of U.S. jobs data that indicated a softening labor market. The report showed mixed results, with June’s job growth slightly exceeding expectations but downward revisions for previous months and a rise in unemployment. This data has increased market expectations for a Federal Reserve interest rate cut in September, with a 72% probability. The prospect of lower rates, combined with a weakening dollar and declining Treasury yields, has made gold more attractive to investors. As a result, spot gold rose 0.7% to $2,371.58 per ounce, with some analysts predicting a potential return to all-time highs if the Fed hints at a September rate cut. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Fed’s Kashkari: Public Prefers Recession Over High Inflation READ MORE Global Bond Markets Surge Amidst Softening US Job Openings READ MORE Canada Tightens Grip on Critical Minerals Sector, Raising Bar for M&A Approvals READ MORE Bonds Rally, Stocks Dip Following First Presidential Face-Off READ MORE Investor Alert: Double Top Pattern & The Looming Financial Crisis READ MORE Add a Comment Cancel replyYour email address will not be published.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