U.S. labor market weakens, gold prices fluctuate

According to Jinshi data, gold prices partially recovered their lost ground in the early trading, but are still in the downward range. The latest data shows that the number of people applying for unemployment benefits for the first time last week fell sharply, but the overall labor market weakened. In the past three months, the U.S. economy has created less than 30,000 new jobs per month, far lower than the level of more than 100,000 monthly at the beginning of the year. Although the Fed has cut interest rates and sent out further easing signals, investors believe the policy outlook is less dovish than expected, causing gold prices to fall by more than 1% intraday.