Gold Falls 0.5% Below $4,470 as US Job Openings Hit 2-Year High
Updated
Updated · Bloomberg · Jun 2
Gold Falls 0.5% Below $4,470 as US Job Openings Hit 2-Year High
3 articles · Updated · Bloomberg · Jun 2
$4,470 an ounce was breached in early trading as bullion fell as much as 0.5%, reversing after a 0.1% gain in the previous session.
US job openings jumped in April to their highest level in almost two years, while layoffs fell, according to Bureau of Labor Statistics data released Tuesday.
That labor-market strength reinforced bets the Federal Reserve will keep interest rates higher for longer, a backdrop that pressures non-yielding assets such as gold.