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Summary:Gold and silver dip.Strong January US jobs data dents near-term rate cut hopes.Spot gold near $5,060; silver slips after sharp prior rally.Markets eye jobless claims and US inflation data next.Iran diplomacy headlines linger in background.Gold prices are rangebound in early Asia trade, as a firmer U.S. dollar capped momentum following stronger-than-expected U.S. employment data that reduced expectations for imminent Federal Reserve rate cuts.Spot gold eased after gaining more than 1% in the prior session. Silver saw sharper moves, falling to about $82.50 per ounce after a 4% surge on Wednesday.The pullback comes as the U.S. dollar index extended its rally after data showed job growth unexpectedly accelerated in January, while the unemployment rate fell to 4.3%. The resilience of the labour market suggests the Federal Reserve has scope to keep interest rates steady as it continues to monitor inflation dynamics.However, some of the headline strength may be overstated. Revisions indicated that the economy added 181,000 jobs in 2025 rather than the previously reported 584,000, tempering perceptions of underlying labour market momentum.Markets are now focused on upcoming U.S. weekly jobless claims and, more importantly, inflation data due Friday for further clues on the Fed’s policy path. A Reuters poll indicated economists expect the Fed to hold rates steady through Chair Jerome Powell’s term, which ends in May, before potentially cutting in June. Debate remains over the future direction of policy under a likely successor, Kevin Warsh.Geopolitical developments also remain in view. Following talks with Israeli Prime Minister Benjamin Netanyahu, President Donald Trump said no definitive agreement had been reached regarding Iran, though negotiations would continue.For now, the dollar’s strength and shifting rate expectations appear to be the dominant drivers for precious metals.
This article was written by Eamonn Sheridan at investinglive.com.
💡 DMK Insight
Gold and silver are feeling the heat from strong U.S. jobs data, and here’s why that’s crucial: With spot gold hovering around $5,060 and silver pulling back after a recent rally, traders need to be aware of how the labor market impacts Federal Reserve policy. The robust jobs report diminishes the likelihood of near-term rate cuts, which typically supports gold prices. A stronger dollar is also capping gold’s upward momentum, making it essential for traders to watch the interplay between these factors. If the dollar continues to strengthen, gold could face further pressure, especially if it breaks below key support levels. On the flip side, if upcoming jobless claims and inflation data show signs of weakness, we could see a reversal in sentiment. Keep an eye on the $5,000 level for gold; a breach could signal a deeper correction. Meanwhile, silver’s recent rally might be vulnerable to profit-taking, so traders should monitor for signs of exhaustion in buying. The next few days will be pivotal, especially with geopolitical tensions from Iran adding an unpredictable element to the mix.
📮 Takeaway
Watch for gold’s reaction around the $5,000 level; a break could signal further downside, while upcoming jobless claims and inflation data will be key indicators.
