US EditionGold Eases as Strong U.S. Jobs Data Dims Fed Rate‑cut Hopes
Gold prices fell 0.3% as a stronger U.S. jobs report boosted the dollar and reduced expectations for near-term Federal Reserve rate cuts.
- On Thursday, U.S. gold futures for April delivery fell 0.3% to $5,080.0 per ounce as the U.S. dollar index firmed after stronger-than-expected January jobs data.
- The U.S. dollar index strengthened after the jobs surprise, rising Wednesday following a January jobs report showing faster growth, a 4.3pc unemployment rate, and revisions cutting 2025 payrolls to 181,000.
- By 04:53 GMT, spot gold was trading lower, with gold edging 0.3% down to $5,063.11 per ounce, while silver fell 1.4% to $82.87.
- Investors are now focused on upcoming economic reads as Christopher Wong, strategist at OCBC, said the stronger jobs report may have pared back Fed rate-cut expectations and warned of two-way risks for gold.
- A firmer dollar makes greenback-priced metals more expensive for other currency holders, with Gold closing Wednesday with a more than 1pc gain and the Congressional Budget Office forecasting a $1.853 trillion deficit in fiscal 2026.
20 Articles
20 Articles
PRECIOUS-Gold cascades down as strong US jobs data and stop-selling weigh
PRECIOUS-Gold cascades down as strong US jobs data and stop-selling weigh Gold prices fell to a near one-week low on Thursday as strong U.S. labour data dampened hopes of near-term Federal Reserve rate cuts, with a break below $5,000 an ounce deepening losses as selling pressure intensified. Spot gold slipped 2.7% lower to $4,941.47 per ounce by 11:50 a.m. ET (1650 GMT). Bullion slipped to its lowest level since February 6 earlier in the sessi…
Gold Prices Slip as Robust US Jobs Report Lifts the Dollar
Gold prices dipped on Thursday, as the US dollar firmed after stronger-than-expected January jobs data dented expectation for near-term interest rate cuts, while investors awaited inflation data due on Friday for more monetary policy cues. Spot gold edged 0.3 percent lower to $5,065.98 per ounce by 0318 GMT. It closed Wednesday with a more than 1 percent gain. US gold futures for April delivery lost 0.2 percent to $5,087.30 per ounce. The US do…
Gold dips lower due to firmer dollar after strong US jobs data
Gold prices dipped on Thursday as the US dollar firmed after stronger-than-expected January jobs data dented expectations for near-term interest rate cuts, while investors awaited inflation data due on Friday for more monetary policy cues. Spot gold edged 0.3 per cent lower to $5,063.11 per ounce by 04:53 GMT. It closed Wednesday with a more than 1pc gain. US gold futures for April delivery lost 0.3pc to $5,083.90 per ounce. “The stronger jobs r…
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