empty
 
 

2021.04.0509:14:00UTC+00Gold Dips After Strong Jobs Data

Gold prices edged lower on Monday as last week's strong U.S. employment report, which showed a surge in new jobs in March and slight drop in unemployment, boosted the dollar and yields.

Spot gold slid 0.2 percent to $1,725.40 per ounce, while U.S. gold futures were down 0.2 percent at $1,725.80.

The yield on the 30-year Treasury bond rose to 2.374 percent and the dollar strengthened as better-than-expected jobs data bolstered hopes for faster economic recovery and added to expectations that all the jobs lost during the pandemic could be recovered by the end of next year.

The U.S. manufacturing sector also saw robust growth in March, marking the highest reading since December 1983.

Amid the strong numbers, analysts say that it will become impossible for the Fed to avoid discussing tapering by the autumn.

Wednesday's FOMC Meeting Minutes may offer insight as to what it will take for Fed policymakers to begin tightening sooner than expected.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback