Will Strong June Nonfarm Payrolls Add To Gold’s Problems? – Investing.com

Will Strong June Nonfarm Payrolls Add To Gold’s Problems? – Investing.com

The U.S. economy created 850,000 jobs in June. It could be another nail in gold’s coffin. What will the yellow metal do?

A total of 850,000 is the number of jobs the U.S. economy added in June. It means that the recent , which came above the forecasts (economist predicted 700,000 created jobs) and are much higher than the 583,000 in May or the deeply disappointing 269,000 in April (see the chart below). Big gains occurred in sectors heavily hit previously by the pandemic, i.e., in leisure and hospitality (343,000), public and private education (269,000), professional and business services, retail trade and other services.