The post Gold price slips after robust US jobs data, trade optimism appeared on BitcoinEthereumNews.com.

XAU/USD slumps, set to lose over 2.5% weekly as traders scale back Fed rate cut bets and risk appetite improves. April NFP beats estimates; unemployment steady at 4.2%, curbing aggressive Fed easing expectations. China says the US is open to trade talks, boosting sentiment and pressuring Gold. Gold (XAU/USD) price edged down over 0.35% on Friday, poised to end the week with losses of over 2.50%. An improvement in risk appetite due to easing trade tensions alongside a strong labor market report in the United States (US) prompted investors to book profits ahead of the weekend. At the time of writing, XAU/USD trades at $3,226 after retreating from a daily high of $3,269. Overnight news revealed that China’s commerce ministry said the US was willing to begin trade talks and tariffs and reassured Washington that Beijing’s door is open for discussions. Bullion prices extended their losses on the headline that Nonfarm Payrolls in April crushed estimates, with the Unemployment Rate holding firm compared to March numbers. XAU/USD’s drop towards the day’s low of $3,222 was precipitated by traders reducing their bets that the Federal Reserve (Fed) would cut rates three times instead of four. US Treasury yields rose sharply, but the US Dollar Index (DXY), which tracks the Greenback’s performance against a basket of six other currencies, tumbled 0.20% to 99.98. After the data release, investors rushed to price in 78 basis points of Fed rate cuts, as revealed by data from Prime Market Terminal. Source: Prime Market Terminal Next week, Gold traders are eyeing the release of the Federal Reserve’s monetary policy meeting, during which the US central bank is expected to keep rates on hold. Daily digest market movers: Gold price edges lower as US Treasury yields jump Recently released data pushed US bond prices down, increasing US…

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Filed under: News - @ May 3, 2025 6:24 pm