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 China's Central Bank Maintains Gold Holdings Amid High Prices READ MORE Gold Prices Stable Amid High Rates and Dollar Resurgence READ MORE Citi Analysts See Gold's Highs Continuing READ MORE ZeroHedge: IEA, OPEC Divergence On Oil Demand Becomes Too Big To Ignore READ MORE JP Morgan Gold Traders go to Jail, while JP Morgan exits DoJ ‘Sin Bin’ READ MORE Add a Comment Cancel replyYour email address will not be published.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