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Moneycontrol

Gold futures dip below $4,440 after strong US jobs report lifts September Fed hike odds

AI Market Summary
Stronger-than-expected US jobs data has reduced expectations for near-term Fed easing and strengthened the dollar, pressuring gold; Comex futures slipped below 4,440/oz and MCX gold edged lower. Markets are now highly sensitive to this week's US CPI and PPI prints ahead of the Fed meeting, with rates-driven real-yield dynamics likely to dominate bullion positioning despite oil's inflationary impulse.
Impact level
● High
Affected assets
NCCOGOLD2USD/USDT-0.25%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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Gold came under pressure after a stronger-than-expected US jobs report cooled expectations for a September Federal Reserve rate cut and lifted the dollar. Comex gold futures slipped below $4,440 an ounce intraday, down 0.83% from the previous close. Meanwhile, rising Middle East tensions helped push WTI crude above $92 a barrel and Brent above $97.
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