Summary
- It reported that spot gold prices surged immediately after the U.S. August nonfarm payrolls announcement, setting a record high.
- Gold prices soared to 3585 dollars per ounce, recording an all-time high.
- It said that the increase in employment numbers fell far short of market expectations in the U.S. employment data, which was the background for the surge in gold prices.
Spot gold prices surged immediately after the U.S. employment data release, setting an all-time high.
On the 5th, according to virtual asset (cryptocurrency) specialized media Blockbeats, spot gold that day climbed to 3585 dollars per ounce, marking a record high. The spike appeared immediately after the release of the U.S. August employment report published at the same time.
Earlier, the U.S. Department of Labor said nonfarm payroll employment increased by 22,000 in August from the previous month. This figure was far below market expectations (75,000). The unemployment rate was 4.3%, in line with expectations. Average hourly earnings also rose 3.7%, meeting market expectations.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
![[Analysis] "XRP risks repeating the 2022 rout…most short-term investors in the red"](https://media.bloomingbit.io/PROD/news/845f37bb-29b4-4bc5-9e10-8cafe305a92f.webp?w=250)
![[Exclusive] “Airdrops also taxable”... Authorities to adopt a ‘comprehensive approach’ to virtual assets](https://media.bloomingbit.io/PROD/news/4bde9dab-09bd-4214-a61e-f6dbf5aacdfb.webp?w=250)