Strong non-agricultural employment triggers interest rate hikes, spot gold falls more than 3%

According to Gate market data, the United States once again achieved strong employment growth in May, raising concerns about a possible interest rate hike later this year. Spot gold fell more than 3% within the day. Stephen Brown, a macro economist at Capital Investment, said that as long as the labor market no longer sees large-scale summer unemployment fears, the possibility of the Federal Reserve raising interest rates several times later in the year appears increasingly great. At the same time, the deadlock in U.S. -Iran negotiations and renewed conflict in the Middle East continue to push up oil prices and exacerbate inflation concerns, further strengthening market expectations that the Federal Reserve may maintain higher interest rates for longer.