Fed dovishly lacks gold recovers some lost ground but still closes down

According to Bijie.com, on September 18 (UTC+8), gold prices recovered some of the lost ground in the early trading, but were still in the downward range. The latest U.S. data shows that the number of people applying for unemployment benefits for the first time last week fell sharply, but more comprehensive data shows that the U.S. labor market is weakening overall. In the past three months, the U.S. economy has created less than 30,000 new jobs per month, far lower than the monthly growth rate of more than 100,000 at the beginning of this year. Although the Fed has implemented a rate cut and sends a signal that "there will be further easing in the future", gold prices had fallen more than 1% earlier in the session as investors believe its policy outlook is "not as dovish as previously expected."