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 BANK OF AMERICA: Gold Still Has Upside, Despite New Record High READ MORE Asian Dollar Loans Hit 14-Year Low as Companies Seek Cheaper Alternatives READ MORE Forex Reserves Surge to $655.8 Billion, Boosted by Rising Gold and Foreign Assets READ MORE Banking Crisis 2.0? NYCB Stock Down 60% in One Week READ MORE Nobel Economists Unite: Trump's Policies Could Trigger Inflation Surge READ MORE Add a Comment Cancel replyYour email address will not be published.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