US jobs data impacts gold and markets
Following the release of the recent U.S. employment data, which came in stronger than expected with approximately 162,000 jobs added in August, the Federal Reserve is expected to raise interest rates at its upcoming meeting in mid-September. These figures reinforce market concerns about ongoing inflation and necessitate further rate hikes, as the yields on 30-year U.S. Treasury bonds have reached around 5.34%, the highest level since 2007. Additionally, the global debt market is facing increasing pressure due to expanding issuance of bonds by governments and corporations, which raises borrowing costs and threatens market stability. Despite the rising bond yields, gold is expected to continue its upward trend as investors seek safe-haven assets. Meanwhile, the Japanese yen remains under pressure due to the absence of any interest rate hikes from the Bank of Japan.
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