Gold prices fell slightly on Monday (August 4th) as investors took profits following the sharp rally in the previous session, driven by weaker-than-expected US employment data.
Nonfarm payrolls data showed an increase of just 73,000 jobs in July, well below expectations, while June's figure was revised down to just 14,000, reinforcing market expectations of a Fed rate cut in September, with the probability now reaching 81% according to CME FedWatch.
Amid this dovish sentiment, geopolitical uncertainty has risen again after US President Donald Trump imposed new tariffs on several countries, and a statement by Trade Representative Jamieson Greer indicated that these tariffs are likely to remain in place.
Source: Newsmaker.id
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