Gold held steady on Monday after U.S. employers cut jobs in July unexpectedly and prior hiring was revised lower, easing concerns about an immediate rate hike. The softer labor picture reduced near-term pressure on U.S. yields, supporting demand for gold. Overall read-through is mildly supportive for precious metals as rate-hike timing becomes less imminent.
Gold held steady on Monday after U.S. employers cut jobs in July unexpectedly and prior hiring was revised lower, easing concerns about an immediate rate hike. The softer labor picture reduced near-term pressure on U.S. yields, supporting demand for gold. Overall read-through is mildly supportive for precious metals as rate-hike timing becomes less imminent.
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Request DemoOverall Sentiment
mildly positive
Sentiment Score
0.10
