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عكس السير
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Gold falls ahead of U.S. jobs report
Gold prices experienced slight fluctuations as investors awaited developments in the Middle East and key U.S. labor market data to be released this week, which could influence the Federal Reserve's interest rate policies. The spot gold price fell by 0.3% to $1,437.10 per ounce, reaching its lowest level since August 19, while U.S. futures contracts rose by 0.1% to $1,485.30. The upcoming data, including job openings and the non-farm payroll report, comes at a time when a rate hike by the U.S. Federal Reserve is expected in September or December. Such rate increases typically put downward pressure on gold, which is considered a hedge against inflation. The pressures on gold are attributed to the Fed Chair's speech, hawkish rhetoric, and Middle East tensions, with expectations that any rate hikes could repeat or amplify their impact on the precious metal's prices.
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