World gold prices rose $100 per ounce to $4,136, or 2.6%. Meanwhile, silver prices increased 4.4%, or $2.60 per ounce, to $61.50. Spot gold and silver prices surged following the June jobs report, as weaker-than-expected employment figures put pressure on the US dollar and dampened expectations of a short-term tightening of monetary policy by the Federal Reserve.
World gold prices are soaring.
PHOTO: TX
The June jobs report shifted sentiment toward further monetary easing by the Fed. Non- farm payrolls rose by 57,000 in June, far below the forecast of 115,000, while the unemployment rate fell to 4.2%, and the April-May jobs figures were revised down by a combined 74,000. This data was weak enough to push the dollar lower and drag the 10-year Treasury yield down to 4.465%. However, it wasn't clear enough to force an immediate policy change, as the lower unemployment rate still suggests limited layoffs. Traders pushed the debate over interest rate hikes further down the yield curve, with expectations of further tightening shifting to December rather than October.
The current situation in the Strait of Hormuz is characterized by lower traffic, rather than a bottleneck. Daily traffic has stabilized at between 30 and 60 vessels passing through over the past seven days, averaging 40 vessels per day this week. However, there remains uncertainty regarding which side's approval is required for passage through the strait. Iran continues to assert its control over traffic, while US forces have informed sailors that no nation has the right to close or control the waterway.
Source: https://thanhnien.vn/gia-vang-bac-tang-vot-185260702212505618.htm
