Close Menu
Daily ForexDaily Forex
  • Home
  • Broker Comparison
  • Market Rates
  • Market Updates
  • News
  • About us
  • Contact us
  • List your Broker
  • Advertise with us

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Understanding Bitcoin’s Long/Short-Term On-Chain Cost Basis: A Powerful Tool for Market Analysis

June 27, 2025

Japanese Yen Steady Amid Mixed Economic Signals – USD/JPY Faces Downside Risk

June 27, 2025

Divergences Are Not Trade Signals—Use Them Wisely

June 27, 2025
Facebook X (Twitter) Instagram
  • About Us
  • Contact Us
  • List Your Broker
  • Advertise with Us
  • Economic Calendar
Facebook X (Twitter) Instagram YouTube Telegram
Daily ForexDaily Forex
Demo
  • Home
  • Broker Reviews
  • Learn Forex
  • Learn Crypto
  • Market Rate
  • Market Updates
  • News
Daily ForexDaily Forex
Home » Gold Prices Surge as Dollar Slides and US Jobless Claims Spike
Market Updates

Gold Prices Surge as Dollar Slides and US Jobless Claims Spike

By saadMay 30, 2025No Comments3 Mins Read2 Views
Facebook Twitter Pinterest LinkedIn Telegram Tumblr Email
Gold retreats from all-time high amid investor profit taking and rising stock market optimism.
Share
Facebook Twitter LinkedIn Pinterest Email

Gold shines bright as weak labor data and dollar losses fuel investor demand

Gold prices soared in today’s trading session, marking a strong comeback from recent lows, as the US dollar stumbled and jobless claims surged beyond expectations. The June gold futures contract jumped nearly 1%, adding over $30 to settle close to key resistance levels.

Dollar Weakness Boosts Gold’s Appeal

The US Dollar Index (DXY) dropped by 0.6%, its sharpest fall in recent sessions, as economic worries gripped the market. A weakening greenback tends to boost gold demand since the precious metal becomes cheaper for foreign buyers.

Investors reacted to soft economic data and legal uncertainties surrounding US trade tariffs, although analysts suggest the primary market driver was dollar weakness, not geopolitical headlines. A federal court ruling questioning the legality of certain emergency tariffs has added fuel to investor uncertainty, though steel and aluminum tariffs remain untouched.

Spike in Jobless Claims Sparks Fed Speculation

More critically, the US Labor Department reported that initial jobless claims rose to 240,000 last week—well above forecasts of 230,000 and higher than the prior week’s 226,000. The unexpected rise in unemployment filings is raising fresh doubts about the strength of the labor market recovery.

This data has intensified speculation about potential Federal Reserve interest rate cuts. If the Fed lowers rates, it would further reduce the opportunity cost of holding non-yielding assets like gold, encouraging inflows into the precious metal.

Fed Under Pressure, But Policy Change Still Unlikely

Despite growing calls for rate relief, Federal Reserve Chair Jerome Powell remains firm on the central bank’s data-driven policy stance. In response to recent political pressure and a meeting with President Trump, Powell emphasized the Fed’s independence and commitment to avoid politically motivated decisions.

“I can’t imagine myself ever requesting a meeting with the president,” Powell noted, reinforcing that the Fed will only act based on sustained economic shifts—not isolated data points.

Market tools such as the CME FedWatch show just a 5.6% chance of a rate cut in the June 18 FOMC meeting, suggesting that traders do not expect immediate monetary easing despite the gloomy data.

Outlook: Gold Eyes Further Gains on Safe-Haven Demand

With inflation concerns rising and economic data turning mixed, gold’s safe-haven status is once again in the spotlight. As long as the dollar remains under pressure and labor market signals stay soft, gold may continue its upward momentum toward the $2,400 mark.


Stay Updated With Dilyforex.pk

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Japanese Yen Steady Amid Mixed Economic Signals – USD/JPY Faces Downside Risk

June 27, 2025

Crypto Market Outlook – June 27, 2025: Bitcoin Rebounds, Ethereum Activity Climbs, Pi Network Faces Pressure

June 27, 2025

Gold and Silver Outlook Steady as Traders Await Key US PCE Inflation Data

June 27, 2025

US Dollar Drops to Multi-Year Lows: What It Means for Gold, Silver, and Market Sentiment

June 27, 2025

Gold Price Forecast: XAU/USD Rises as Dollar Weakens Amid Fed Independence Concerns

June 26, 2025

AUD/USD Forecast: Australian Dollar Gains on CPI Data and Ceasefire Relief

June 26, 2025
Leave A Reply Cancel Reply

Top Posts

Should Forex Traders Use Brokers Offering Deposit Bonuses? Is It Really Worth It?

March 6, 20252,715 Views

Pakistan Confident in IMF Bailout Review as Economic Stability Gains Momentum

March 4, 20252,651 Views

Gold Price in Pakistan Today – March 7, 2025 (Morning Update)

March 7, 20252,640 Views
Don't Miss

Understanding Bitcoin’s Long/Short-Term On-Chain Cost Basis: A Powerful Tool for Market Analysis

June 27, 2025

Explore how Bitcoin’s long- and short-term cost basis helps identify market tops, bottoms, and investor sentiment shifts.

Japanese Yen Steady Amid Mixed Economic Signals – USD/JPY Faces Downside Risk

June 27, 2025

Divergences Are Not Trade Signals—Use Them Wisely

June 27, 2025

EUR/USD Holds Firm Near 1.1700 as Fed Independence Worries Weigh on Dollar

June 27, 2025
Stay In Touch
  • Facebook
  • YouTube
  • TikTok
  • WhatsApp
  • Twitter
  • Instagram
Latest Reviews
Daily Forex
Facebook X (Twitter) YouTube
  • Home
  • Privacy Policy
  • Terms of use
  • Disclaimer
  • Feedback
Copyright © 2025 DailyForex.pk. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.