According to Jinshi data reports, influenced by strong U.S. employment data, gold futures prices fell on Friday, but overall remained slightly up for the week. Analysts at Mitsubishi UFJ noted that U.S. labor market data has weakened expectations for interest rate cuts in the short term, putting pressure on gold.
Data shows that the number of initial jobless claims in the United States has fallen for the sixth consecutive week, marking the longest streak of declines since 2022. Analysts added that market optimism regarding trade prospects is increasing, and investor sentiment is gradually shifting towards risk assets, which is suppressing demand for safe-haven assets like gold.