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\n Share:<\/span><\/p>\n Gold price slumps after hitting a daily high of $1977.87, as the release of a solid US jobs data report underpinned US Treasury bond yields, a headwind for the yellow metal. That, alongside a strong US Dollar (USD), keeps XAU\/USD downward pressured but still set to end the week with decent gains. At the time of writing, the XAU\/USD is trading below the $1950 area.<\/p>\n A risk on impulse keeps safe-haven assets under pressure, as Wall Street shrugged off a solid employment report from the United States<\/a> (US). On Friday, the US Department of Labor revealed May’s Nonfarm Payrolls<\/a> report, which crushed estimates of 190K, as the economy created 339K jobs. Regarding the Unemployment Rate grew by 3.7% YoY from 3.4%.<\/p>\n US Treasury bond yields reacted to the upside, with 2s jumping 16 bps to 4.501%, while 10s stood at 3.689%, gaining nine bps. The greenback edged up 0.43% as shown by the US Dollar Index<\/a> at 104.026, ready to post its first weekly loss, snapping three weeks of gains.<\/p>\n Bets that the US Federal Reserve will keep rates unchanged at the June meeting increased, although, in July, it is almost sure that the US central bank will raise rates by 25 bps.<\/p>\n Should be said that once the US House and Senate approved the US debt-ceiling bill, US bond yields dropped. The bill would be signed by US President Joe Biden during the weekend, ending the soap opera.<\/p>\n\n
XAU\/USD falters amid robust US data, Treasury yields surge and heightened Fed rate hike expectations<\/h2>\n
XAU\/USD Price Analysis: Technical outlook<\/h3>\n