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TOP SECTOR EUR STABLECOIN (0%)
TOP CRYPTO MARKET CAP $0.00T
24H VOLUME $0.00B
BTC DOMINANCE 0.0%
ETH DOMINANCE 0.0%
TOP SECTOR EUR STABLECOIN (0%)
TOP CRYPTO MARKET CAP $0.00T
24H VOLUME $0.00B

Gold tumbles as US yields jump as traders await US nonfarm payrolls

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Gold prices plunged as rising US Treasury yields dampened demand for the precious metal, with investors shifting their focus to the upcoming US nonfarm payrolls report. The yellow metal fell sharply after yields on 10-year Treasury notes hit new highs, increasing the opportunity cost of holding non-yielding assets like gold.

Traders are bracing for the nonfarm payrolls data, which is expected to provide fresh insights into the strength of the labor market and influence the Federal Reserve’s next move on interest rates. A stronger-than-expected report could reinforce expectations of prolonged higher rates, further pressuring gold.

The sharp drop in gold underscores the ongoing shift in market sentiment, with rising yields providing an attractive alternative to safe-haven assets. As uncertainty looms over the Fed’s policy direction, the market’s reaction to Friday’s payrolls data will likely determine the next phase for gold’s price movement.

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