US economic data released..!! What is the situation with gold..?
US economic data released..!! What is the situation with gold..?
According to data released by the US Department of Commerce, the country's economy has continued to grow strongly in the third quarter of 2024. US GDP grew at an annualized rate of 2.8% in the september quarter. Although this growth has decreased slightly from the previous quarter, it has continued to be strong, the US Department of Commerce said. There are several reasons for the GDP growth recorded in the september quarter. The main reason for this is that people's spending has increased due to increased employment and wage increases this quarter, which has increased the country's consumption. Due to this, the economy has strengthened, and in addition, increased US exports have helped GDP growth. The US labor market remains strong, the US Department of Commerce said at 7 pm indian time today. The number of people filing for unemployment benefits fell by 2,000 to 213,000 as of the end of last week, i.e. november 23. This shows that new jobs are being created in the labor market. However, the number of people filing for long-term unemployment benefits increased by 9,000 to 1.907 million. This also shows that there is uncertainty in the labor market.
According to data released by the US Department of Commerce, the country's economy has continued to grow strongly in the third quarter of 2024. US GDP grew at an annualized rate of 2.8% in the september quarter. Although this growth has decreased slightly from the previous quarter, it has continued to be strong, the US Department of Commerce said. There are several reasons for the GDP growth recorded in the september quarter. The main reason for this is that people's spending has increased due to increased employment and wage increases this quarter, which has increased the country's consumption. Due to this, the economy has strengthened, and in addition, increased US exports have helped GDP growth. The US labor market remains strong, the US Department of Commerce said at 7 pm indian time today. The number of people filing for unemployment benefits fell by 2,000 to 213,000 as of the end of last week, i.e. november 23. This shows that new jobs are being created in the labor market. However, the number of people filing for long-term unemployment benefits increased by 9,000 to 1.907 million. This also shows that there is uncertainty in the labor market.
Gold Price: The price of 24-carat gold per ounce fell from $2,657 to $2,650 in the international spot market an hour after the release of US economic data.
Dollar Value: The DXY index, which measures the value of the dollar in the international currency market, fell 0.80 percent to 106.16. With this, the indian rupee has registered a small increase in the value of the US dollar in the last one-hour of trading.