us data

Gold tumbles on solid US nonfarm payroll report, China slowing down gold buying

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Gold tumbles on solid US nonfarm payroll report, China slowing down gold buying

Buoyed by rate cut expectations after the Bank of Canada and the European Central Bank (ECB) cut rates earlier this week, spot gold rose to $2,387 on Friday, the highest level since May 22. However, the metal crashed on a robust US nonfarm payroll report. Spot gold closed with a loss of 3.49% at $2,294 … Read more

US inflation slows in March but remains above Fed target

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US inflation slows in March but remains above Fed target

New York: US consumer inflation slowed in March, according to data released Wednesday, but remained well above the Federal Reserve’s target despite numerous interest rate hikes over the last year. The rate of inflation year-over-year fell to 5.0 percent last month from 6.0 percent in February, the smallest 12-month increase since May 2021, according to … Read more