Gold prices fall amid the conflict with Iran and U.S. employment data.
The stock market week of April 6 began with a decline in the price of gold. Prices were pressured by the strength of the dollar, amid the continued pressure on global markets caused by rising oil prices due to the prolonged conflict between the United States, Israel, and Iran. Strong U.S. labor market data also negatively influenced the price, reducing expectations for an interest rate cut by the Federal Reserve, according to Reuters.
At 4:52 GMT, the spot price of the precious metal fell by 0.5%, to $4,652.89 per ounce. Gold futures for April delivery in the United States remained at $4,678.70 amid low trading volume.
Many markets in Asia and Europe remained closed for holidays. Data released on Friday showed that non-farm payrolls in the United States increased by 178,000 jobs in March, the highest figure since December 2024, and the unemployment rate fell to 4.3%. These results pressured gold prices lower, as yields on 10-year U.S. Treasury bonds and the dollar index rose, making dollar-denominated gold less attractive.
Brent crude prices continued to rise amid the conflict in the Middle East, which continues to affect global energy supply. The threat of a worsening situation in the region is fueling inflationary expectations. However, analysts point out that this has not led to a strengthening of gold, traditionally considered a safe-haven asset.
The continued rise in oil prices is fueling fears of higher inflation. Meanwhile, high-interest rates are reducing the demand for gold, which, unlike fixed-income assets, does not generate income.$BTC
The stock market week of April 6 began with a decline in the price of gold. Prices were pressured by the strength of the dollar, amid the continued pressure on global markets caused by rising oil prices due to the prolonged conflict between the United States, Israel, and Iran. Strong U.S. labor market data also negatively influenced the price, reducing expectations for an interest rate cut by the Federal Reserve, according to Reuters.
At 4:52 GMT, the spot price of the precious metal fell by 0.5%, to $4,652.89 per ounce. Gold futures for April delivery in the United States remained at $4,678.70 amid low trading volume.
Many markets in Asia and Europe remained closed for holidays. Data released on Friday showed that non-farm payrolls in the United States increased by 178,000 jobs in March, the highest figure since December 2024, and the unemployment rate fell to 4.3%. These results pressured gold prices lower, as yields on 10-year U.S. Treasury bonds and the dollar index rose, making dollar-denominated gold less attractive.
Brent crude prices continued to rise amid the conflict in the Middle East, which continues to affect global energy supply. The threat of a worsening situation in the region is fueling inflationary expectations. However, analysts point out that this has not led to a strengthening of gold, traditionally considered a safe-haven asset.
The continued rise in oil prices is fueling fears of higher inflation. Meanwhile, high-interest rates are reducing the demand for gold, which, unlike fixed-income assets, does not generate income.$BTC