Gold’s Game, Gently Paused Near Peak
Gold prices have settled into a gray‑hound‑like lurch, staying close to last week’s highs while investors stare at tomorrow’s US non‑farm payroll report. Think of it as being stuck in a traffic jam right before the next freeway boom.
Why the Pause?
- Softening labour market – U.S. employers hired the fewest workers in 3½ years in August, as reported by ADP. Job openings fell in July, and manufacturing isn’t revving up.
- Inflation & policy vibes – The Fed’s next-rate pad‑in‑conference at the September meeting is likely to feel the tug of the sticky data.
- Gold’s behind-the-scenes boost – Central banks are feeding the gold kettle, and ETFs keep bubbling with inflows.
Potential Rate Cut: A Win for Gold?
With the current data hinting at a weaker job market, big‑cut expectations are on the rise. Large, swift cuts could push gold prices higher—just enough to give a solid lift.
What Traders Are Watching
The market is glued to today’s job data. If growth slides below the open‑market forecast, we could see a hefty rate cut. Gold stands to benefit.
Why Gold Keeps Its Edge
- Uncertainty in the U.S. and China drags demand up.
- Central banks’ persistent appetite inflates the price.
- Global ETF inflows add a steady stream of support.
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