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 Fed Governor Waller Seeks Extended Inflation Improvement Before Cutting Rates READ MORE China's Central Bank Creates New Liquidity Tools to "Help" Monetary Policy READ MORE South Korea's Reserve Bank Holds Back Amid Global Rush READ MORE China Commands 80% of Global Solar Silver Supply Chain READ MORE December Consumer Prices Rise Unexpectedly, Surpassing Forecasts READ MORE Add a Comment Cancel replyYour email address will not be published.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