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Gold Declines Amid U.S. Jobs Report, Sparking Fed Rate Cut Speculation
- September 9, 2024
- Posted by: Agbaje Feyisayo
- Category: News
No CommentsGold prices took a dip after a mixed U.S. jobs report spurred more speculation about the Federal Reserve’s upcoming decision on interest rates. The nonfarm payrolls report showed an increase of 142,000 jobs in the previous month, but this marked the slowest pace in three months, bringing average job gains to their lowest since 2020.
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Gold price rebounds on downbeat NFP data, eyes on Fedspeak.
Gold prices rebounded during the European session on Monday, breaking a two-day losing streak. This was in response to the market’s digestion of the U.S. employment data, which was weaker than expected. The U.S. Nonfarm Payrolls (NFP) report, a significant economic indicator, has increased the likelihood of a September rate cut by the U.S. Federal
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Renowned figures in the financial world, Robert Kiyosaki, David Einhorn, and Gary Shilling, are all sounding the alarm on inflation — a concern shared by the Fed.
- April 9, 2024
- Posted by: Agbaje Feyisayo
- Category: News
Paul Volcker, the ‘dragon slayer’ who took decisive action against inflation in the 1980s, left a formidable legacy that current Fed Chair Jerome Powell is still striving to equal. As inflation concerns resurface, Wall Street’s unease heightens, with Powell yet to claim victory over this persistent economic challenge. In a recent announcement, Powell underscored that
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Gold price edges down from all-time highs as US Dollar Treasury yields revive.
In Thursday’s early American session, the gold price experienced a downturn from its recent all-time highs, touching around $2,220, as the US Dollar and Treasury yields saw a significant recovery. The US Dollar Index (DXY), which measures the dollar’s value against a basket of six major currencies, climbed back to 103.50. This rebound followed a
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