Non-Farm Data and Waller's Recent Remarks Boost Gold Prices
On July 2, lower-than-expected U.S. non-farm employment data lifted gold prices, which are currently up 2% after a slight decline before the report was released. According to the U.S. Bureau of Labor Statistics, only 57,000 non-farm jobs were added in June, significantly below analysts' previous forecast of 115,000. This unexpected data drove up stock and commodity prices, alleviating market concerns about future interest rate hikes. Remarks from Federal Reserve Chair Waller also eased worries about interest rates. The most actively traded silver also rose, increasing by 4%.
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WTI November crude oil futures closed at $92.41 per barrel.
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