Gold eases as firmer dollar counters bets of Fed pause

Gold prices fell as the dollar strengthened by 0.2% due to a strong U.S. payrolls report. U.S. gold futures decreased 0.3%, and spot gold dipped 0.1% to $1,945.66 per ounce. Gold prices had already slipped over 1% on Friday due to the announcement of a 339,000 increase in US nonfarm jobs last month. But a surge in unemployment rates tied with prospects of a Fed rate pause this month changes that scenario. The pause creates possibility for gold prices to become less attractive to buyers in the high interest rate environment.

Gold eases as firmer dollar counters bets of Fed pause
Gold prices fell as the dollar strengthened by 0.2% due to a strong U.S. payrolls report. U.S. gold futures decreased 0.3%, and spot gold dipped 0.1% to $1,945.66 per ounce. Gold prices had already slipped over 1% on Friday due to the announcement of a 339,000 increase in US nonfarm jobs last month. But a surge in unemployment rates tied with prospects of a Fed rate pause this month changes that scenario. The pause creates possibility for gold prices to become less attractive to buyers in the high interest rate environment.