XAUUSD : Precious metals continue to increase
Gold prices continue to increase today as newly released data shows that the labor market is showing signs of cooling and the US economy is slowing down. Specifically, the report on gross domestic product in the second quarter of the US Bureau of Economic Analysis showed that the economy grew by 2.1%, lower than expected.
Analysts are now closely watching the labor market as it can determine when the US central bank stops raising interest rates. The Fed has said it will need to consider a slowdown in the labor market as a condition for ending the current tightening cycle.
Analysts are now closely watching the labor market as it can determine when the US central bank stops raising interest rates. The Fed has said it will need to consider a slowdown in the labor market as a condition for ending the current tightening cycle.
Comment:
🔹The Dow Jones rises by about 150 points at the beginning of Thursday’s trading...and American market indices are heading towards recording a fifth day of gains.
It fell during trading on Wednesday, as investors evaluated economic data that showed a slowdown in the labor market, which reinforced expectations that the Federal Reserve would stop tightening monetary policy.