02 Aug 2025
Gold soars as dismal US NFP data and Russia tensions spark safe-haven demand
Gold price rallies to $3,350 after weak US Nonfarm Payrolls report shows just 73K jobs added in July.
May–June payrolls revised down by 258K; labor market turmoil supports Fed doves' push for cuts.
Fed funds futures now price 76% odds of a 25 bps rate cut in September.
ISM Manufacturing PMI shows sector remains in recessionary territory; UoM Consumer Sentiment deteriorates.
