The price of Gold (XAUUSD) surged during trading on Wednesday, surpassing $4,200 per troy ounce. However, on Thursday (11/13/2025), Gold made a downside turn, hitting $4,187 per troy ounce around 7:08 AM WIB.
Optimism regarding the impending end of the U.S. government shutdown boosted Gold’s performance yesterday. Once the government reopens, critical economic data such as labor market statistics (including non-farm payrolls/NFP) will be released again. This will provide the Federal Reserve with a clearer picture of the economic conditions in the U.S.
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Market participants are also focused on several labor market data points from private sources indicating weakness. Last week, Challenger, Gray & Christmas Inc. reported that there were 150,000 job cuts in October, marking the highest level in the past 20 years.
Moreover, Automated Data Processing Inc. (ADP) reported on Tuesday that U.S. companies laid off 11,000 employees in the week ending in late October.
These two sets of data have led market participants to anticipate that the forthcoming NFP data release will also reflect a weaker labor market. This scenario increases the likelihood of the Fed considering a rate cut in December.
However, White House officials indicated early this morning that the NFP and inflation (consumer price index/CPI) data for October are unlikely to be released due to the ongoing government shutdown, which has lasted over six weeks. The White House mentioned that the shutdown has adversely affected data collection, suggesting there will likely be no economic data releases for October.
The NFP data was supposed to be released last Friday, while the CPI data was due tonight. The absence of these two reports means the Fed lacks insight into the current state of the U.S. labor market and inflation, which could serve as a reason for not lowering interest rates in December. This situation has created negative sentiment and sparked profit-taking in Gold.
