Gold prices fell today after the dollar strengthened as last January’s stronger-than-expected jobs report dented hopes of short-term interest rate cuts as investors awaited tomorrow’s inflation data. To get more monetary policy indicators.
Gold fell 0.34% in immediate trading to $5,072.22 per ounce. The stock ended its last session up more than 1%.
US gold futures for next April delivery fell 0.2% to $5,087.30 per ounce.
The dollar index rose after employment data showed a strong US economy. A stronger dollar makes metal prices denominated in U.S. currency more costly to holders of other currencies.
increase in employment
U.S. job growth unexpectedly accelerated last month and the unemployment rate fell to 4.3%, but the biggest job gain in 13 months may overstate the strength of the labor market. Research shows the economy will add only 181,000 jobs in 2025, instead of the 584,000 jobs previously estimated.
“The strong employment data led to a slight decline in interest rate cut expectations, which may have played a role in the weaker move in gold,” said Christopher Wang, an analyst at one of the specialist groups.
Gold prices fell today as the dollar strengthened following the release of a stronger-than-expected January jobs report, denting hopes for near-term interest rate cuts, while investors awaited tomorrow’s inflation data for further indicators on monetary policy.
Gold fell 0.34% in spot trading to $5,072.22 per ounce. The stock ended the session up more than 1%.
US gold futures for April delivery fell 0.2% to $5,087.30 per ounce.
The dollar index rose after employment data showed a strong US economy. A stronger dollar makes dollar-denominated metals more expensive for holders of other currencies.
job growth
U.S. job growth unexpectedly accelerated last month, with the unemployment rate falling to 4.3%. However, the revised results show that the economy will grow by only 181,000 people in 2025, rather than the previously expected 584,000, suggesting that the largest employment increase in 13 months may be an exaggeration of the strength of the labor market.
“The strong employment report, which led to a slight decline in interest rate cut expectations, may have played a role in the soft move in gold,” said Christopher Wang, an analyst at the specialist group.
