Gold prices drop as US jobs data boosts rate hike expectations.
TL;DR Summary
Gold prices fell by 1% to slip below $2,000 on Monday, after U.S. employment data pointed to a tight labour market, raising expectations of another rate hike by the Federal Reserve in May. The report raised bets that the U.S. central bank would increase rates next month, with markets pricing in a 63.4% chance of a 25 basis-point (bps) hike, according to the CME FedWatch tool.
- Gold slides 1% after US jobs data raises rate hike bets Reuters
- Gold Price Forecast: XAU/USD trims losses once below $2,000, looks prone to downside amid hawkish Fed bets FXStreet
- Gold Forecast: Markets Look Higher for Targets DailyForex.com
- Gold dips on stronger dollar after US payrolls data The Economic Times
- Gold Price Forecast: XAU/USD bears need to take out $1,977 hurdle for further correction FXStreet
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