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The gold price is nearing a record high due to rising US rate expectations. Bullion surges by 30% in 16 months from the late 2022 low.
January saw nonfarm payrolls grow by 353,000, surpassing Dow Jones' estimate of 185,000. Unemployment remained at 3.7%, beating the 3.8% estimate.
Asian stocks fell as major US tech firms dragged down markets after Wall Street's decline. Nasdaq led with a 1% drop, alongside other US indexes.
ADP's latest survey: Only 107,000 jobs added, far below the expected 145,000. December's gain revised to 158,000 from 164,000.
Gold is nearing a 3-month peak on Tuesday as markets anticipate the Fed's June rate cut. It surged $50 last week due to weak US data.
Oil prices surged as OPEC+ decided to prolong voluntary output cuts by 2.2 million bpd into Q2, meeting market forecasts.
Gold steadied near one-month highs post-US inflation data meeting expectations, with a 62% likelihood of a June Fed rate cut factored in by markets.
Thursday saw oil prices dip due to a significant rise in US crude stockpiles, sparking concerns over sluggish demand and prolonged high interest rates.
Core PCE price index increased 2.9% in December from a year earlier, cooling to an almost three-year low even with robust holiday spending.
US stocks ended Tuesday nearly flat as the earnings season winds down. Equities surged recently, mainly driven by enthusiasm for AI stocks.
Japan's Nikkei 225 index rose on Tuesday, extending gains from the previous session as China's winning streak ended. Nikkei is up about 17% this year.
Asian oil prices dropped Monday, continuing losses from the prior session, with a weekly decline of 2-3% due to fading rate cuts.
Asian investors enter Friday's trading buoyed by a global market surge. Yet, caution is warranted with Treasury yields up and the dollar resilient.
Despite Japanese officials' concerns over the yen's rapid decline, it traded below 150 per dollar on Thursday, marking a 6% drop this year.
