Gold surges as U.S. job openings hit 2-year low.
The gold market rose above $2,000 an ounce after the US labor market showed signs of slowing, with the number of job openings dropping more than expected in March. The Federal Reserve likes to watch the ratio of job openings to unemployed people and has previously stated that rate hikes were justified because the number of job openings was elevated. The lower-than-expected job openings signal that this could be the last Fed rate hike in this tightening cycle before a pause. All eyes are on Friday’s nonfarm payrolls report from April.