©Reuters
Investing.com – The price fell after rising earlier in the day after US jobs data showed the US economy was able to add more jobs than expected as wages continued to rise and labor market participation continued to decline.
Chicago Fed Chairman Charles Evans explained that the Fed will continue to hike interest rates by 50 basis points at its next meeting, but eventually the interest rate will be higher than estimated.
“We will probably have to go above the peak rate, even if we backtrack on the 75 basis point rate hike that has been the benchmark for past meetings,” Evans said.
Meanwhile, it trimmed its losses today, logging $1,795 an ounce, down 0.41%, and gold futures were down 0.32%, logging $1,809 an ounce.
It also cut losses posting 0.21%, down just 68 points.
As oil keeps its profits to settle today, ahead of next Sunday’s OPEC+ meeting, in light of speculations to cut production again to keep the energy market balanced, in light of what Russia is exposed to a cap of European price.
It registers $86.86 a barrel, while West Texas Intermediate crude registers $81.58 a barrel.
