News Formal

Gold prices under pressure after ADP says 278K jobs created in May; US labor market remains healthy but wage growth falling

  • 📰 KitcoNewsNOW
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 78%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

Gold prices under pressure after ADP says 278K jobs created in May, US labor market remains healthy

- The gold market is seeing some selling pressure as the U.S. labor market continues to fire on all cylinders, with private-sector jobs increasing more than expected last month, according to the latest employment report from payroll processor ADP.

However, the threat of spiraling wage inflation appears to be muted, as the report noted that wages continue to fall. The gold market is losing ground after seeing a solid bounce off a two-month low at the start of the week. June gold futures last traded at $1,959.30 an ounce, down 0.23% on the day.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How the major gold/mining stocks are stacking up, technically - May 30Kitco News' contributed commentary features articles and opinions from some of the top experts in the gold industry.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »