Gold Stutters as Strong US Jobs Data Dampens Expectations of Large Rate Cuts

October 9, 2024 10:05:00

The price of gold dipped last week following strong data on jobs in the United States, which showed that nonfarm payrolls rose by more than 250,000 jobs in September. The report reduced expectations of an aggressive reduction in rates from the Fed, boosting the greenback.

Figures show that traders reduced expectations for a rate cut from…

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