Does Gold Care About Payrolls Data?

Sep 5, 2024, 5:18 p.m. IST

At the time of writing gold is rallying to session highs, sitting above $2,520. This week is all about US employment data releases, and all the information and inference they bring. Tomorrow is the big one: Non-Farm Payrolls data.

Non-Farm Payrolls data is always closely watched but there is a particular focus on this week’s as it will give a clear picture of how big a rate cut the FOMC will commit to, at their September meeting in a fortnight’s time.

For those wondering why Non-Farms’ Payroll carries so much weight, particularly this month, then take a look at our explainer recorded earlier on today. It’s particularly useful if you’re wondering how and why it matters to the gold price.

David Hunter Predictions

Our interview with David Hunter continues to grab the attention of many viewers, over 30,000 have watched so far. By way of reminder David has made several punchy (and unpopular) calls over the years, the most recent being $3,000 gold. Tune in here.

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About Author

Dave Russell

David is the CEO of GoldCore. Until Summer 2023 he was the Director of Marketing and Communications, responsible for all marketing and communications strategies and branding. David joined GoldCore in 2008 as Director of Business Development and later took over as Director of Marketing and Communications in 2020. Prior to this Dave managed and operated his own Marketing Agency and completed multiple coaching qualifications. "Working for GoldCore gives you a fantastic lens through which to view global financial and geopolitical developments. I am very proud to be part of a company that contributes to increasing investors understanding of these developments." When he’s not at work, David is passionate about sailing and has completed the ‘Round Ireland Yacht Race’ twice.