Reported 6 months ago
Gold prices fell below $2,300 an ounce, marking the largest drop in nearly three years as a strong US jobs report dampened hopes of Federal Reserve rate cuts. The surprise job growth led to increased Treasury yields and a rising dollar, causing gold to plunge 3.7%. Additionally, China's central bank stopping gold purchases after 18 months of accumulation also contributed to the decline in prices, signaling a potential shift in demand.
Source: YAHOO