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Gold Prices Gain After Jobs Report -- WSJ

The Wall Street Journal · 01/06/2023 11:45

By Hardika Singh

The most-actively traded gold futures contract rose 1.4% to $1,865.70 a troy ounce, rallying alongside stocks and bonds (https://www.wsj.com/articles/global-stocks-markets-dow-update-01-06-2023-11673006793) after Friday's jobs report.

Investors said cooling wage gains bolster (https://www.wsj.com/articles/december-jobs-report-unemployment-rate-economy-growth-2022-11672961227) the case for a less-aggressive course of interest-rate increases from the Federal Reserve.

Rising rates weighed on gold last year. But futures have climbed in recent weeks, boosted by hopes inflation has peaked and the rate-increase cycle is nearing an end.

Such hopes are among the reasons some analysts predict further gains in 2023, after last year's tepid performance. (https://www.wsj.com/articles/gold-outlook-is-buoyed-by-hopes-for-a-less-hawkish-fed-in-2023-11672239496)

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(END) Dow Jones Newswires

January 06, 2023 11:45 ET (16:45 GMT)

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