Gold extended a surge to a 13-month high after US data showed the jobs market loosening, diminishing bets the Federal Reserve will hike interest rates again.
The precious metal on Tuesday closed above the $2 000 an ounce threshold for the first time since March 2022, after data showed vacancies at US employers dropped in February to the lowest since May 2021.
It’s a welcome sign for the Fed, which has tried to cool the labour market to slow inflation.
Gold extended a surge to a 13-month high after US data showed the jobs market loosening, diminishing bets the Federal Reserve will hike interest rates again.
The precious metal on Tuesday closed above the $2 000 an ounce threshold for the first time since March 2022, after data showed vacancies at US employers dropped in February to the lowest since May 2021.
It’s a welcome sign for the Fed, which has tried to cool the labour market to slow inflation.
Bloomberg
