US Employment Data Exceeds Expectations, Gold Rises

The US non-farm payroll data for June came in below market expectations. This development increased investors' search for safe havens and led to a rise in gold prices. Weak employment data and falling oil prices supported demand for gold. Following the data release, spot gold rose to $4,118 per ounce, while gram gold reached 6,194 TL. Markets are adopting a cautious stance in response to signs of a slowdown in the US economy. Analysts note that the weak employment data could impact the Fed's interest rate policies. This movement in gold prices indicates that global economic uncertainties persist. This is not investment advice.

📊 GLD — Piyasa Yorumu

▲ up · 60%

The news headline indicates that gold prices rose even though US employment data exceeded expectations. This may suggest that the market interpreted the data as a sign of a strong economy rather than inflationary pressure. On the technical side, the RSI at 64.68 is approaching overbought territory, but the MACD remains above its signal line and positive, supporting short-term upward momentum. The price staying above the 20-day and 50-day moving averages also confirms the uptrend. However, the elevated RSI level and the 2.6% gain over the past 24 hours introduce some risk of profit-taking in the near term.

RSI 14

64.7

MACD

0.61

24h Δ

2.61%

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