Gold prices reversed earlier gains and fell by up to 1% after data from Non Farm Payroll showed an improvement in the latest labor data and market views that there is a decrease in tensions in the US-China trade war.
Nonfarm Payrolls (NFP) in the United States (US) rose by 139,000 in May, the US Bureau of Labor Statistics (BLS) reported on Friday. This followed a gain of 147,000 (revised from 177,000) recorded in April and slightly better than the market expectation of 126,000. Other details from the report showed that the Unemployment Rate remained steady at 4.2% as anticipated, while the Labor Force Participation Rate fell slightly to 62.4% from 62.6%. Lastly, annual wage inflation, as measured by the change in Average Hourly Earnings, remained unchanged at 3.9%, beating the market forecast of 3.7%.
Silver prices stabilized on Wednesday (August 6th) as expectations of a Fed interest rate cut increased following the release of weaker-than-expected US employment data. Besides its role as a precious...
Gold prices held steady on Tuesday (August 5th), holding near the two-week high reached in the previous session, as weaker-than-expected US employment data raised expectations for a September interest...
Silver prices stabilized during the Asian session on Tuesday (August 5th), after rising in the previous two sessions, amid growing expectations of an interest rate cut by the Federal Reserve (Fed) in ...
Gold prices held steady around $3,380 per ounce during the Asian trading session on Tuesday (May 8) amid strong expectations of a Fed interest rate cut in September, fueled by weak US employment data ...
Gold prices (XAU/USD) have declined from the $3,369 region, a more than one-week high touched during the Asian session on Monday (August 4th), and currently appear to be stagnating after a relatively ...
USD/CHF weakened after two days of gains, trading around 0.8070 during the Asian session on Wednesday (August 6th). The currency pair depreciated as the US dollar (USD) weakened due to strong dovish sentiment surrounding the Federal Reserve's (Fed)...
Gold prices weakened slightly on Wednesday (August 6th) as the dollar strengthened slightly, while investors refrained from placing large bets ahead of US President Donald Trump's decision on Fed official appointments. Spot gold fell 0.1% to...
Silver (XAG/USD) prices remained stable after posting gains in three consecutive sessions, trading around $37.80 per troy ounce during the Asian session on Wednesday (August 6th). Technical analysis of the daily chart shows the precious metal...
European stock markets opened positively this week, with the Euro Stoxx 50 up 0.6% and the broader Stoxx 600 up 0.2%. This rebound follows a sharp...
White House economic advisers on Sunday defended President Donald Trump's firing of the head of the Bureau of Labor Statistics, dismissing criticism...
The European Union will suspend its two packages of countermeasures to U.S. tariffs for six months following a deal with U.S. President Donald...
Tensions and fears are running high in Switzerland, as the deadline to strike a trade agreement with the U.S. looms just days away.
Without a deal,...