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[BUSINESS] · United States, United Arab Emirates, Egypt, Saudi Arabia, Türkiye · 65 sources

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Gold prices fluctuate amid weak US jobs data and strong dollar

Gold prices faced downward pressure as a strengthening US dollar offset support from cooling US labor market data. Spot gold traded near $4,138 per ounce, following a weekly decline of approximately 3.4 percent.

Recent US economic reports indicated a slowdown in hiring, with nonfarm payrolls increasing by only 29,000 in September, significantly below expectations. The unemployment rate rose to 4.2 percent, and annual wage growth slowed to 3 percent. These figures have shifted market expectations regarding Federal Reserve policy, with traders now pricing an 18 percent probability of an interest rate hike in October.

While the strong US dollar makes bullion more expensive for international buyers, the reduced likelihood of immediate rate hikes provides some underlying support for the metal. Geopolitical tensions in the Middle East also remain a key factor for market volatility, influencing both gold and oil prices.

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Brent crude · Bursa Malaysia Derivatives · CME Group · Deutsche Bank · Federal Reserve · Gold · Gold · Grand Bazaar · HSBC · Jewelry Exporters Association · Morgan Stanley · OPEC+

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Sources

Altın haftaya hareketli başladı [www.gazeteekspres.com]
Gold: Wells Fargo und HSBC senken Prognosen [www.kapitalmarktexperten.de]
Quo vadis Goldpreis [www.bondguide.de]