Gold Dips as Jobs Data Signals Soft Labor Market and Fed Path in Limbo
TL;DR Summary
Gold slid nearly 2% to about $4,365/oz as July U.S. JOLTS data showed job openings at 7.27 million, below expectations around 7.33 million, signaling ongoing labor-market softness. The pullback comes amid higher oil from Middle East tensions and inflation fears, keeping the Fed on a tightening bias. If the labor market cools further, rate hikes could stall, raising concerns about stagflation while gold tests support around $4,350.
- Gold prices remain down as U.S. JOLTS highlight ongoing weakness in labor market KITCO
- The labor market was little changed in July, with hiring and layoffs both inching lower Yahoo Finance
- Where are all the new jobs? Hiring slows again — and it probably won’t speed up soon. MarketWatch
- U.S. job openings rise slightly to 7.3 million as labor market remains sturdy despite higher costs ABC News - Breaking News, Latest News and Videos
- Cool Job Market a Warning Sign for the Economy U.S. News & World Report
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