by Yvonne Yue Li
BNN Bloomberg
(Bloomberg) — Gold advanced as traders sought safety in the precious metal amid concerns over tariffs and inflation, even as a strong US jobs report supported the case for a pause in Federal Reserve interest-rate cuts.
US hiring accelerated in December and the unemployment rate unexpectedly fell, capping another year of resilience in the jobs market, a Bureau of Labor Statistics report showed Friday. The print reaffirmed policymakers’ view that the US central bank will adopt a more cautious approach to lower borrowing costs amid a still-healthy labor market and sticky inflation.
Swap traders have now shifted their expectations for the Fed’s next rate cut to the second half of the year, and 30-year Treasury yield rose above 5% for the first time for the first time in more than a year.