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 India's Gold Duty Cut Diminishes Dubai's Appeal for Shoppers READ MORE China's Commodity Hoarding: Implications for Global Markets and Security READ MORE Gold Particles Found in Emissions from Antarctica’s Tallest Volcano READ MORE Fed Leaves Rates Steady, Projects Fewer Cuts in 2024 Amid Slower Inflation READ MORE Precious Metals Prices Show Mixed Trends, Index Remains Sideways READ MORE Add a Comment Cancel replyYour email address will not be published.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