Live Updates > Live Update Details
2025-08-01 23:59:05
Gold futures rose on weak US jobs data, fueling expectations of a rate cut. July's US non-farm payroll data fell far short of expectations, with just 73,000 new jobs added, below analysts' expectations of 100,000. May and June figures were also revised downward by 258,000. Gold futures rose 1.6% to $3,402.30 per troy ounce. ING Group stated that the labor market lost momentum earlier than expected, and the impact of tariffs on the economy has increased pressure on the Federal Reserve to cut interest rates. A low interest rate environment is beneficial for non-interest-bearing gold, and market expectations for a September rate cut have intensified. (Dow Jones)
