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mcx-reports

Gold prices fell sharply amid dollar strength following a jobs report showing the US economy created more jobs than expected in January, while signs of wage growth lifted investor expectations for a faster pace of rate hikes. The Labor Department said Friday, U.S. non-farm payrolls rose by 200,000 jobs iŶ JaŶuarLJ. That ďeat eĐoŶoŵists’ foreĐasts for ϭ84,ϬϬϬ Ŷeǁ jobs. While unemployed remained at unchanged on the prior month at 4.1%. BNP Paribas revised upward its assessŵeŶt of Đore PCE iŶflatioŶ, the Fed’s preferred ŵeasure of iŶflatioŶ, to 2.2% from 2.0% previously, and said it expects the Fed to raise rates four times in 2018 compared to the prior estimate of just three hikes.

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