Stronger Jobs Data Triggers Over 2% Decline in Gold Prices Gold prices fell over 2% after stronger-than-expected U.S. jobs data dampened hopes for interest rate cuts this year. Spot gold dropped 2.5% to $2,315.36 per ounce, and U.S. gold futures fell 2.4% to $2,333.30. The bearish sentiment was further influenced by China halting its gold purchases in May. The robust jobs report showed 272,000 new jobs in May, outpacing the expected 185,000, with average hourly earnings rising by 0.4%. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Inflation Data Shifts Fed Focus from 'If' to 'How Much' on Rate Cuts READ MORE Yukon Government Seeks Control of Victoria Gold After Mine Disaster READ MORE Falling Retail Sales Drive Treasury Yields Down, September Rate Cut Likely READ MORE Gold Retreats from Recent Highs with Upcoming U.S. Inflation Reports in Focus READ MORE Social Security at a Crossroads: Can the System Survive an Aging America? READ MORE Add a Comment Cancel replyYour email address will not be published.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