Gold Soars Over 3 Percent Amid Surprise Decline in US Employment Data

The release of US non-farm payroll data on Friday caused a notable movement in gold prices. Spot gold soared by over 3 percent, surpassing $4,361 per ounce, while gram gold climbed above 6,700 liras.

The surprise decline in non-farm payrolls, which fell by 23,000 people, led to increased volatility in the markets. The unemployment rate dropped from 4.2 percent to 4.1 percent, presenting a complex picture for the US Federal Reserve's upcoming interest rate policy decisions.

The strengthening or weakening of employment data directly affects market expectations regarding the Fed's interest rate policy. Following the release of the report, there was movement in the dollar index and US Treasury yields, but the main reaction manifested itself in increased volatility in gold prices.