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 Job Market Reality Check: BLS Set to Erase Up to a Million Jobs from 2023-2024 Estimates READ MORE The War On Crypto & The Death of the US Dollar READ MORE Gold Rush 2.0: Australian Miners Poised for M&A Spike Amid Soaring Prices READ MORE Gold Shines Amid Tough Year for Commodity Returns in 2023 READ MORE Jamie Dimon Believes U.S. Debt Is the ‘Most Predictable Crisis’ in History READ MORE Add a Comment Cancel replyYour email address will not be published.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