Gold and silver slip as traders brace for US payrolls report
AI Market Summary
Gold and silver eased modestly but held near one-week highs as markets awaited US nonfarm payrolls and unemployment data, a key input into Fed policy expectations. Softer ADP hiring supported bullion by hinting at slowing growth, while a still-elevated September hike probability (~64%) capped upside via higher real-rate sensitivity. Lower oil prices also reduced inflation pressure, partially supporting metals into the data.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT+2.82%
AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
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Gold and silver eased on Thursday but held near one-week highs. On COMEX, gold traded at $4,065.30 an ounce, down 0.42%, while silver was at $60.345, down 0.27%. Markets were focused on the release of US nonfarm payrolls and the unemployment rate, which could shape expectations for a September Fed rate hike currently priced at 64%. A softer ADP private employment reading of +98,000 versus 118,000 expected earlier helped underpin bullion prices.
