Live updates: promos, term changes, new challenges, payouts.
The yield on 30-year US Treasury bonds has risen to 5.70%, the highest level since 2002. Rising yields increase pressure on gold, raise borrowing costs and make stocks less attractive relative to government debt.
XAU/USD rose to $4,227 on Friday but failed to consolidate above $4,200 and pulled back to $4,138. That is about a 1% decline for the day, despite a weak US labor market report.
Today at 15:30 MSK, the US publishes the September employment report. The market expects about +90 thousand new jobs and unemployment at 4.1%, but heightened attention will be on wages amid a sharp rise in US bond yields.
Gold first rose to $4,220 after soft US inflation data, but then completely erased its gains and fell to $4,139-4,150. Pressure was intensified by rising US Treasury yields, a strong dollar and more hawkish rate expectations
On Friday, October 2, at 15:30 Moscow time, the US employment report is released. This week this is the main macro event: the bond market has already repriced levels, and the Fed raised rates for the first time in more than three years. The Employment Situation release is indeed scheduled for October 2 at 08:30 ET, that is, 15:30 Moscow time.
