Institutions: Non-farm payrolls data dampens expectations of interest rate cuts, putting downward pressure on gold prices.
This article is machine translated
Show original
According to ME News, gold prices edged lower in early trading on February 12 (UTC+8), with New York gold futures holding steady below the $5,100 mark. Stronger-than-expected US non-farm payroll data and a decline in the unemployment rate weakened market expectations for a near-term interest rate cut by the Federal Reserve. "The renewed focus on the latest economic data suggests that the market is gradually normalizing after recent volatility. Meanwhile, the upcoming Chinese New Year holiday may further dampen risk appetite and liquidity," said an analyst at Saxo Bank. (Source: ME)
Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments
Share
Relevant content





