XAU/USD: Gold Prices Continue to Nurse Losses After Hot Nonfarm Payrolls Data
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Gold prices dropped 4.5% to under $2,300 after hot nonfarm payrolls data indicated a strong US economy. The nonfarm payrolls for May came in at a hot 272,000, surpassing expectations. The higher jobs number suggests a growing economy, which may influence the Federal Reserve's stance on interest rates. Traders and investors are awaiting upcoming reports on inflation data and the Fed's interest rate decision. The drop in gold prices is attributed to the lack of safe-haven demand. The article is from TradingView News.
https://www.tradingview.com/news/tradingview:53a179202094b:0-xau-usd-gold-prices-continue-to-nurse-losses-after-hot-nonfarm-payrolls-data/
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