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U.S. Jobs Report Impact: Gold Prices Slip Amid Dollar and Treasury Gains

gold-prices-dip-in-asian-trade-amidst-extended-fed-interest-rate-speculations
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Traders React to Job Market Tightness and Inflation Risks

In Monday’s trading session, gold prices receded 0.4% to $1,934.89 per ounce as the U.S. dollar and Treasury yields strengthened following the analysis of Friday’s jobs report.

Although the U.S. economy added fewer jobs than expected in July, wage gains and a decline in the unemployment rate indicated continued labor market tightness.

Market participants view the job market as still being robust, reducing concerns about a significant slowdown. However, wage pressures may keep inflation risks on the radar.

Investors are closely watching U.S. consumer price index (CPI) data, due on Thursday, to assess the need for rate hikes to control inflation.

Federal Reserve Bank of New York President, John C. Williams, anticipates potential interest rate adjustments next year.

Spot silver fell 0.6% to $23.45 an ounce, while platinum inched up 0.1% to $922.85. Palladium gained 0.7% to $1,264.84.

SHREE METAL PRICES