Gold Prediction: Will Gold prices fall further? Experts reveal key levels for investors to watch
· Business · LiveMint, Wall Street Journal
Gold prices dropped 0.7% on Monday after US nonfarm payrolls increased by 162,000 in August, significantly exceeding the Street forecast of 53,000. The enough rate remained steady at 4.1%, while average hourly own rose 3.1% year-on-year, complicating the Federal Reserve's policy path. While spot gold fell to $2,398 per ounce and silver eased by 1%, geopolitical tensions and elevated oil prices provided some support for safe-haven demand.
Why it matters
The resilient US labor market suggests the Federal Reserve may maintain higher interest rates longer, which typically puts pressure on non-yielding assets like gold.
Read the original report — LiveMint
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