# Gold prices rise to over one-month high after US jobs report

> Gold prices rose to a one-month high on July 5 after US jobs data showed the labor market softening. The data raised expectations of a Federal Reserve rate cut in September.

- Date: 2024-07-05 · published 2024-07-05T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/29147-gold-prices-rise-to-over-one-month-high-after-us-jobs-report
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Softer US labor data lifts rate-cut expectations and weakens the dollar, a modest support for dollar-priced commodities.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-09-01 | [Euro holds near one-month high after inflation jolt \| Reuters](https://feedsoft.ai/events/45265-euro-holds-near-one-month-high-after-inflation-jolt-reuters.md) | +0.1% | +1.4% |
| DXY | 2019-03-22 | [Ringgit rises to 9-month high on Fed’s decision](https://feedsoft.ai/events/60363-ringgit-rises-to-9-month-high-on-fed-s-decision.md) | +1.0% | +0.5% |
| DXY | 2016-06-08 | [Wheat prices add over two percent as dollar plumbs one-month low](https://feedsoft.ai/events/9126-wheat-prices-add-over-two-percent-as-dollar-plumbs-one-month-low.md) | +1.0% | +1.5% |
| DXY | 2018-06-20 | [Dollar retreats from 11-month high; sterling rises after BOE](https://feedsoft.ai/events/64786-dollar-retreats-from-11-month-high-sterling-rises-after-boe.md) | -0.3% | -0.3% |
| DXY | 2017-01-31 | [Korean won near 2-month high after BoK keeps rates to boost gr...](https://feedsoft.ai/events/73209-korean-won-near-2-month-high-after-bok-keeps-rates-to-boost-gr.md) | -0.6% | -0.6% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/gold-eyes-second-straight-weekly-rise-spotlight-us-payrolls-2024-07-05/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.