Gold prices declined sharply during Thursday's North American session, with XAU/USD falling to $4,061. The selloff was triggered by a surprisingly strong US Nonfarm Payrolls (NFP) report for September, which significantly outperformed market forecasts. This robust employment data strengthened the US dollar, applying considerable downward pressure on the dollar-denominated precious metal throughout the trading session.
The exceptional jobs data reinforced expectations that the Federal Reserve will maintain its hawkish monetary policy stance. This environment of higher-for-longer US interest rates diminishes the appeal of non-yielding assets like gold, sparking a mass exodus from traditional safe havens. The commodity was down 0.38% as investors recalibrated their positions based on the new economic reality and the prospect of a continued strong USD.
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Data Source: GrowingPool Analysis Team Updated: 2025-11-20 18:55
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.