Read more
2:09 PM ยท 6 August 2021

๐Ÿ† Gold tanks after NFP data

-
-
Open account Download free app

Today’s NFP report may have changed the outlook in terms of future Federal Reserve’s steps. The US economy added 943k jobs in July, the fastest pace since August 2020. The unemployment rate fell to 5.4% while wages advanced 4.0% YoY. The report indicates substantial progress on the US labour market - this may pressure the Fed to launch monetary policy normalisation soon. The employment growth is higher than it used to be before the pandemic, but the US economy still lacks 5-6 million jobs compared to pre-Covid times. 

Meanwhile, gold prices plunged below key support at $1,790 / 1,800 an ounce on the stronger US dollar and rising US bond yields. The price of the precious metal fell to the lowest levels since early-July. In fact, it is very close to levels not seen since April! Gold traders have not witnessed such significant declines since mid-June.

Source: xStation5

30 January 2026, 6:58 PM

Daily summary: A historic day for precious metals; SILVER loses 30%; USD gains ๐Ÿ’ก

30 January 2026, 6:28 PM

Has the precious metals bubble burstโ“ SILVER dips over 33% in a single day ๐Ÿšจ

30 January 2026, 6:09 PM

Three Markets to Watch Next Week (30.01.2026)

30 January 2026, 10:07 AM

โฌSilver below $100, Gold breaches $5000

Join over 2 000 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissรฃo de Valores Mobiliรกrios (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits