Goldman Sachs Physical Gold ETF is trading 3.2% down today as stronger-than-expected U.S. jobs data boosts expectations that the Federal Reserve will keep interest rates higher for longer, pressuring non-yielding assets.
- The robust labor market report has led traders to reassess the path of interest rates and the U.S. dollar, reducing demand for gold.
- Broader risk markets are under pressure, with major U.S. indices and cryptocurrencies also trading lower, reinforcing a general risk-off environment.