Gold melts down as blowout NFP sends
DXY above 100
$XAUT
XAU/USD tumbles as stellar payrolls report pushes Gold below the 200-day
SMA.US payrolls smash forecasts, reinforcing Fed's inflation-fighting stance Treasury yields jump, dragging non-yielding Gold sharply lower.Hezbollah's rejection complicates US-Iran talks and ceasefire prospects.Gold (XAU/USD) price collapses during the North American session on Friday as the latest Nonfarm Payrolls report in the US smashed forecasts, with figures for the last three months upwardly revised, increasing the chance of a Federal Reserve (Fed) rate hike. The XAU/USD pair trades at $4,336, down more than 3%.XAU sinks as NFP shock sends US Dollar soaringNonfarm Payrolls in May significantly exceeded expectations, increasing by 172K—more than double the forecasted 85K—highlighting the robustness of the labor market and supporting the view that the Federal Reserve should focus on fighting inflation.#gold
DXY above 100
$XAUT
XAU/USD tumbles as stellar payrolls report pushes Gold below the 200-day
SMA.US payrolls smash forecasts, reinforcing Fed's inflation-fighting stance Treasury yields jump, dragging non-yielding Gold sharply lower.Hezbollah's rejection complicates US-Iran talks and ceasefire prospects.Gold (XAU/USD) price collapses during the North American session on Friday as the latest Nonfarm Payrolls report in the US smashed forecasts, with figures for the last three months upwardly revised, increasing the chance of a Federal Reserve (Fed) rate hike. The XAU/USD pair trades at $4,336, down more than 3%.XAU sinks as NFP shock sends US Dollar soaringNonfarm Payrolls in May significantly exceeded expectations, increasing by 172K—more than double the forecasted 85K—highlighting the robustness of the labor market and supporting the view that the Federal Reserve should focus on fighting inflation.#gold