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[ad_1] MSCI’s global index of stocks fell on Thursday, on track for its biggest one-day percentage decline since April, while Treasury yields rose as a surge in U.S. private payrolls fueled concerns that interest rates would stay higher for longer. Payroll company ADP said June private payrolls rose 497,000, far exceeding economists’ expectations for a 228,000 increase and 267,000 in May. The Labor Department said initial claims for state unemployment benefits rose 12,000 to a seasonally adjusted 248,000 for the week ended July 1, but the prior week was revised to show 3,000 fewer applications than reported. Compounding worries that this would lead to a more hawkish central bank, Federal Reserve Bank of Dallas President Lorie Logan said on Thursday that a continued above-target inflation outlook and a stronger-than-expected labor market “calls for more-restrictive monetary policy." U.S. Treasury yields climbed after the labor market data boosted expectations for aggressive Fe

[ad_1] Last Updated: July 04, 2023, 00:41 IST New York, United States of America (USA) Gold also garnered support from a pullback in the dollar after data showed U.S. manufacturing slumped further in June. (Representative image) Spot gold was up 0.1% at $1,920.49 per ounce by 1:54 p.m. EDT (1754 GMT), while U.S. gold futures settled little changed at $1,929.50 Gold prices edged up on Monday, as the U.S. dollar and Treasury yields retreated on weaker economic readings, casting doubts over whether the Federal Reserve may stick to its hawkish policy outlook. Spot gold was up 0.1% at $1,920.49 per ounce by 1:54 p.m. EDT (1754 GMT), while U.S. gold futures settled little changed at $1,929.50. Bullion lost 2.5% in the April to June quarter. “Gold has probably found a home around 1900," said Edward Moya, senior market analyst at OANDA. “There’s some positioning happening here … the market last week seemed to be slowly pricing in more Fed rate hikes, but data going forward might sugg