Gold rose as the US unemployment rate came in lower than expected
Deltafx Admin 10 January 2023The unemployment rate measures the percentage of the total labor force that was unemployed and actively looking for work in the past month.
A higher than expected number should be considered negative/bearish for the USD, while a lower than expected number should be considered positive/bullish for the USD.
The unemployment rate in the United States was released on January 6 at 1:30 pm at 3.5%, which was 0.2% below forecasts. It should also be noted that the value of the previous period of this index was 3.6%.
After the release of this index, which was lower than expected, the price of gold in the markets rose to 1870.93.
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