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Gold rises again after soft ADP payrolls, easing oil

AI Market Summary
Gold extended gains after weaker-than-expected ADP private payrolls and softer oil prices, reinforcing a risk-off tilt and easing concerns about near-term inflation pressure. Markets are focused on upcoming US nonfarm payrolls for confirmation of labor-market cooling and implications for the Fed's policy path. Broad precious metals strength (silver, platinum, palladium) suggests defensive positioning and continued demand for hedges.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT+2.13%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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Gold prices extended gains on Thursday, with spot gold climbing to $4,063.56 an ounce after hitting $4,114.99 in the prior session, its highest level since June 23. The move was underpinned by weaker-than-expected U.S. private-sector hiring—ADP reported payrolls rose by 98,000 versus forecasts of 118,000—and a pullback in oil prices. Markets are now focused on June's U.S. nonfarm payrolls report due later today for fresh clues on the Federal Reserve's policy path. Silver, platinum and palladium also advanced.
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