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 G-20 Says World Economy Has Growing Chance of Soft Landing READ MORE Bond King' Bill Gross Warns of Potential Recession and Overvalued Stocks READ MORE U.S. Treasury to Initiate Securities Buyback, Holds Quarterly Debt Sale Steady READ MORE HSBC Predicts Gold's Rollercoaster: 2024 Surge Followed by 12% Drop in 2025 READ MORE Turkey's Inflation Climbs to 75.5%, Policymakers Hope for Relief READ MORE Add a Comment Cancel replyYour email address will not be published.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