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Gold eases as robust US payrolls boost rate-hike bets; inflation data in focus
Spot gold slipped 0.5% as traders raised the odds of a Federal Reserve rate hike after August U.S. job growth accelerated sharply, official data showed.
Gold prices fell on Monday as strong US job statistics increased expectations of interest rate hikes. Market players are now focused on upcoming US inflation figures that will dictate the Federal Reserve's policy decisions. Should inflation rise, gold prices may come under further pressure this week, with traders considering a notable likelihood of a rate hike in September. Other precious metals also saw small declines during the trading period.
Gold started the week lower as expectations of an interest rate cut weakened following strong US employment data. Markets are awaiting US inflation data this week for new clues regarding the Fed's September interest rate decision. So what's the latest on gold? Here are the details...
Today, on Monday, gold prices stabilized, with investors expecting US inflation data during the current week, looking for indications of the Federal Reserve's interest rate path.