Gold prices today (31/8) continue to recover to the highest level in nearly 1 month and trade around $1945.4 per ounce as a series of data suggests that the US economy is slowing down, reinforcing the view that the Federal Reserve may pause interest rate hikes at its meeting on September 20.
Job Openings and Labor Turnover Survey (JOLTS) data in the US fell to its lowest level in nearly 2 and a half years in July, raising hopes that the Fed could curb inflation without a significant increase in unemployment rates.
Job Openings and Labor Turnover Survey (JOLTS) data in the US fell to its lowest level in nearly 2 and a half years in July, raising hopes that the Fed could curb inflation without a significant increase in unemployment rates.
Comment:
The Fed has said it will need to consider a slowdown in the labor market as a condition for ending the current tightening cycle.
