AuAltinavcisiPrecious metals news and analysis

Fed & yields

Strong Jobs Data Crushes Hopes for July Fed Rate Cut

Gold Prices Rise on Fed Rate Cut Bets; Silver Hits 13-Year Peak
Gold Prices Rise on Fed Rate Cut Bets; Silver Hits 13-Year Peak

The US job market showed surprising strength in June, adding 147,000 jobs – well above the 106,000 economists expected.

The unemployment rate dropped to 4.1%, defying predictions it would rise to 4.3%. This positive news reduced expectations for an immediate Federal Reserve interest rate cut, with markets now seeing only a 5% chance of a July cut.

Despite some recent signs of cooling, including private sector job losses reported by ADP, the overall labor market remains resilient.

Eight more from the desk

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