Gold hits fresh 1-year high after US jobs data The price of ye | LAGFX Forex Learning Lounge

Gold hits fresh 1-year high after US jobs data
The price of yellow metal broke over $2,000 on Tuesday, reaching its new one-year high following the release of data on the United States' labor market, which showed a large drop in the country's job openings.

The lower-than-expected job openings figure in February could indicate that the United States labor market might be slowly cooling off following Federal Reserve's aggressive monetary tightening to tame the raging inflation in the country. The traders will now shift their focus to nonfarm payrolls, slated for release later this week.

Gold jumped 1.62% to go for $2,016.40 per ounce at 10:16 am ET, hitting its highest level since March last year. Silver surged 2.73%, selling at $24.64 per ounce at the same time. Platinum gained 1.84% to $1,011.91 per ounce and palladium rose 0.86% to go for $1,464.13 per ounce.