🚨 Gold Holds Above $5K Despite Strong Jobs Data
🔥 Gold remains steady above $5,000 per ounce, but recent U.S. jobs data has created some short-term pressure. The U.S. economy added 130K jobs in January, well above expectations, and wages rose by 3.7% YoY. 📊
💡 What This Means for Gold:
With stronger-than-expected jobs numbers, investors now expect interest rate cuts to happen later, likely around July or June, which boosted Treasury yields. 📅💸 This has limited gold’s immediate upside.
🌍 Global Demand Keeps Gold Strong:
Despite the short-term pressures from the U.S. economy, China's central bank continues to buy gold, supporting its price. 🏦🔮
Conclusion: The outlook for gold remains strong as global demand persists, but short-term volatility is expected. Watch for any changes in the Fed’s moves! 📈💎
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