The United States has published labor market statistics that significantly influenced financial market movements on Friday (April 4, 2025).
The non-farm payrolls (NFP) data for March indicated an increase of 228,000 jobs, surpassing the forecast from Trading Central, which was set at 100,000, and exceeding the previous month’s figure of 151,000.
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The unemployment rate for March was reported at 4.2%, in line with the forecast, yet it reflected a slight rise from last month’s 4.1%. Additionally, the average hourly wage rose by 3.8% year-on-year (YoY), falling short of the predicted 4% YoY increase.
Following this announcement, the price of Gold dropped to $3,070 per troy ounce.
The NFP figure being significantly higher than both the forecast and the previous month’s data created a negative sentiment toward Gold. However, the increase in the unemployment rate coupled with the decline in average wages indicates a weakening labor market.
Overall, the data presents a mixed picture, leading to volatility in Gold prices. A tendency for profit-taking emerged, driving prices lower similar to the previous Thursday. This liquidation by several market participants was also influenced by the drastic decline of other assets, such as Nasdaq, which fell to a nine-month low. Profit-taking is often executed to offset losses from other investments.
The release of the U.S. labor market data also resulted in volatility for Nasdaq, fluctuating around the 18,100 mark. In the forex market, major pairs like EURUSD, GBPUSD, and USDJPY continue to exhibit volatility.
