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Gold Retreats as Robust US Data Dampen Rate Cut Expectations

Posted on AllSides April 7th, 2024
From The Left

Gold fell after closing at a record high last week, as investors weigh a strong US jobs report that saw traders unwinding bets for steep Federal Reserve rate cuts this year. The precious metal fell as much as 1.2% in early Asian hours, pressured by a rise in Treasury yields after US payrolls rose in March by the most in nearly a year and the unemployment rate fell to 3.8%. Those numbers support the argument that the Fed will be in no rush to loosen monetary policy. Higher rates are...

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