Gold’s Sudden Descent: Strong Jobs Data Shatters the $5,000 Floor

Gold prices faced a dramatic downturn this Thursday, cascading to a near one-week low as robust U.S. labor data recalibrated market expectations. The surge in employment figures has effectively dampened hopes for immediate Federal Reserve rate cuts, reinforcing a "higher-for-longer" interest rate environment. This fundamental shift triggered a technical sell-off, with spot gold sliding 3.2% to $4,915.74 an ounce.

The descent was accelerated by a "cascading effect" as prices breached the critical $5,000 psychological threshold, hitting numerous stop-loss orders. As volatility intensifies, investors are closely watching how persistent labor strength will continue to pressure bullion’s safe-haven appeal.

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