Gold prices jump as US job market cools
Gold prices climbed on Wednesday after the US unemployment rate rose to 4.6% in November, higher than expected.
With fewer new jobs and some old numbers revised down, investors see signs that interest rates might come down sooner—making gold a more appealing safe haven.
Why does this matter?
When interest rates are expected to drop, gold usually gets more popular since it doesn't pay interest but holds value well.
For anyone watching their money or thinking about investing, these shifts hint at changing opportunities ahead.
What's behind the move?
The dollar just hit a two-month low and Treasury yields fell after the jobs report, making gold cheaper for buyers outside the US.
Gold jumped 0.4% to $4,318.37 per ounce on Wednesday. Plus, the Federal Reserve's recent rate cut and softer tone have added extra support.
What's next?
Keep an eye out for upcoming inflation data (like CPI and PCE reports).
These could shape what happens with rates—and gold—next.