Gold Prices Today: Investors Watch for US Jobs Data Impact on Gold Rates
Thursday, 5 September 2024, 00:18
Gold Prices Today: Steady Amid Anticipation of US Labor Data
Gold prices remained steady amid cautious investor sentiment ahead of the upcoming US non-farm payrolls report. Spot gold is currently priced at $2,494.73 per ounce, while US futures dipped slightly, now at $2,524.90. In India, the price for 24k gold remains stable at ₹72,760 per 10 grams.
Key Factors Affecting Gold Prices
- US Labor Market Data: Recent statistics revealed that US job openings have fallen to a 3.5-year low, indicating a potential weakness in the labor sector.
- Impact on Rate Cuts: Despite the easing job market, analysts believe this alone won't lead to a drastic 50-basis-point rate cut by the Federal Reserve.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.