#GOLD
Gold price loses momentum as soft US jobs report fails to spark rebound
The softer US jobs data on Friday failed to unlock a sustained rebound in gold as Treasury yields stay stubbornly high
If something can’t go up on good news, that is rarely a good sign in markets.
In theory, the softer US jobs report at the end of last week should have been a clean setup for gold. The non-farm payrolls figure rose by just 29k in September, well below expectations around 90k, while the unemployment rate ticked up to 4.2%.
Gold price loses momentum as soft US jobs report fails to spark rebound
The softer US jobs data on Friday failed to unlock a sustained rebound in gold as Treasury yields stay stubbornly high
If something can’t go up on good news, that is rarely a good sign in markets.
In theory, the softer US jobs report at the end of last week should have been a clean setup for gold. The non-farm payrolls figure rose by just 29k in September, well below expectations around 90k, while the unemployment rate ticked up to 4.2%.