BusinessPhoto: Mint MarketsGold Drops on Strong US Jobs Data and Fed Rate Hike Speculation
Gold prices fell by up to 1.5% to around $4,020 an ounce after stronger-than-expected US nonfarm payrolls data fueled speculation that the Federal Reserve will raise interest rates to control inflation. Despite diplomatic efforts in the Middle East, losses in AI stocks and high energy prices have pressured gold. Goldman Sachs cut its year-end gold forecast to $4,150 an ounce, citing rate hikes and inflation volatility.
Mint Markets·


