Gold Rebound Misses $2500 as US Job Openings Sink, China's Discount Deepest in 3 Years
Gold Price News By Adrian Ash – Wednesday 4th September 2024
GOLD BULLION rallied from near 3-week lows in London trade on weak US jobs data Wednesday but failed to regain the $2500 level after prices in the metal's No.1 consumer China suggested the weakest balance of bullion demand over supply in 3 years.
Global stock markets meanwhile extended this week's miserable start to September as China's services-sector PMI survey for August showed growth slowing hard.
But US equities opened flat from Tuesday's sell-off as betting jumped that the Federal Reserve will make a sharp cut to interest rates in 2 weeks' time following today's news that job openings in the world's largest economy fell to the lowest level in July since New Year 2021.
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