October US Non-Farm Payrolls data significantly missed expectations, and gold prices broke through $4310

【CryptoWorld】U.S. October Non-Farm Payrolls Data Released, Surprising Results — a MoM decrease of 105,000 jobs, whereas the market had previously expected only a 25,000 decline. This unexpectedly weak data immediately triggered a market reaction. Spot gold rose accordingly, surging over $10 in the short term, ultimately reaching a level of $4,312.54 per ounce.

Weak employment data usually indicates that economic growth is under pressure, prompting investors to flock to safe-haven assets. Gold, as a traditional safe haven, naturally becomes a destination for capital. This logic of economic data linked to commodities remains valid today, reflecting the market’s cautious attitude towards the U.S. economic outlook. For the overall trend of risk assets, such macroeconomic data is worth close attention.