"While the Fed has broadcast that the federal funds rate is likely to drop later this year, Friday’s jobs report “supports the soft landing and higher-for-longer stance many were hoping for,” he said.
“That’s not positive for gold,” as the metal normally reacts best to lower rates, a weaker dollar, and slower economic growth, Braakman told MarketWatch. “The Fed can continue its fight against inflation, which is also a detractor to gold prices.”
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