☀️ Mon 5 Oct · ⚪ MIXED for gold
Gold about $4,135 (down about $45 since Friday's brief)
📰 What happened
🟢 US jobs report (new jobs last month): 29,000 vs about 90,000 expected. A Fed rate rise this month now looks less likely. 🔥🔥🔥
🔴 But US bond rates (yields) stayed above 5.2%, close to a 24-year high. Gold jumped to about $4,226 on the jobs news, then gave it all back as yields rose again. Gold pays no interest.
🔴 The dollar hit its highest since April 2025 on Monday, as the euro slid on French debt worries.
🟢 Rich nations (the G7) agreed on Friday to release up to 100 million barrels of oil and diesel from emergency stocks. Easing oil fear means less inflation pressure, a small help.
🔴 Weekend: Yemen's Houthi rebels claimed an attack on a Saudi oil site, and a tanker was hit in the Strait of Hormuz. Oil fear is inflation fear while the Fed fights inflation.
📅 Next 24 hours (UK / New York)
15:00 / 10:00 US services survey (ISM) 🔥🔥 MEDIUM
Shops, banks, hotels and more. Above 50 = growing
Expected 55.1 to 55.7 (prev 55.4)
🟢 if weaker | 🔴 if stronger
Time not confirmed: Fed's Goolsbee speaks (Chicago Fed boss) 🔥🔥 MEDIUM
🟢 if he leans to pausing | 🔴 if he leans to more rate rises
📖 Gold lesson
The dollar can rise for reasons far from the US. Monday's euro slide lifted it. Gold is priced in dollars, so a stronger dollar often weighs on it.