Gold hits $3,600 as US jobs data disappoints - why smart money is doubling down
Key Points
- August jobs report missed expectations with only 22,000 jobs...
The August jobs report landed with all the grace of a lead balloon, adding just 22,000 jobs when economists expected 75,000. That's roughly the same number of people who work at a mid-sized university, which explains why gold just shot up to $3,600 like it's being chased by inflation.
When Employment Numbers Play Hard to Get
The unemployment rate crept up from 4.2% to 4.3%, while wages decided to take a vacation from growing. Fed Governor Christopher Waller has been making the rounds basically saying "yeah, the job market looks pretty rough right now" - which is Fed-speak for "we might n...
While we have taken every measure to build an AI pipeline that generates credible and accuracte news, we still encourage you to conduct your own research before making investment decisions. InsAIght's content should not be considered professional financial or trading advice.