Gold Eases From 13-Month High as US Shows Signs of Slowdown
- Weaker economic data sees swaps traders boost rate-cut bets
- Metal rose to the highest since March 2022 earlier this week
This article is for subscribers only.
Gold eased from near the highest in 13 months as traders digested the latest US economic data and its potential impact on the Federal Reserve’s interest-rate path.
Initial jobless claims were higher than expected last week, underlining the headwinds the American economy is facing. Data on Wednesday showed the US service sector expanded in March at a much slower pace than projected, while companies added fewer jobs than forecast.