The price of gold futures continued to fall. Most recently, it plummeted more than $ 20, breaking the level of $ 1,840 today. under pressure from the appreciation of the dollar which will reduce the attractiveness of gold By making gold contracts more expensive for holders of other currencies.
At 10:20 p.m. Thai time, the COMEX (Commodity Exchange) gold contract is delivered in February. minus $ 21.10 or 1.14% to $ 1,837.91 / ounce
In addition, gold prices were also under pressure. amid concerns that A strong US labor market will be a factor in accelerating the Federal Reserve’s (Fed) interest rate hike.
The Labor Department reported initial claims for unemployment benefits fell 19,000 to a seasonally adjusted 204,000 last week. which is the lowest level since September And below analysts’ expectations of 225,000.
The number of Americans still claiming unemployment benefits fell 24,000 to 1.694 million.
Meanwhile, Automatic Data Processing Inc. (ADP) said private sector employment rose 235,000 in December. This was above analysts’ expectations of 153,000 jobs from 127,000 in November.
Services added 213,000 jobs in December. While the manufacturing sector added 22,000 jobs.
The number of unemployment is lower than expected. and higher-than-expected private employment numbers Indicates a strong US labor market. This will support the Fed’s interest rate hike to curb inflation.
Investors keep an eye on US non-farm payrolls figures for December. which will be revealed tomorrow While analysts expect Employment numbers rose by only 200,000 in December. following adding 263,000 jobs in November And the unemployment rate is expected to remain stable at 3.7%.
