The spot gold price fell below the $4,480/ounce mark, with an intraday drop of 2.68%. Recently, due to the combined impact of multiple market factors, volatility in the precious metals sector has significantly increased. Market investors are also closely monitoring the subsequent effects of upcoming macroeconomic data and policy trends on the gold market.

Economists expect US non-farm payrolls to increase by 55,000 in August.

Oil tanker tracking agency TankerTrackers said on Sunday that the average daily crude oil shipments through the Strait of Hormuz over the past seven days stood at 3.8 million barrels. The agency noted that this figure has declined from the 9.8 million barrels per day recorded during the period when the Iran-US memorandum of understanding was in effect, although that memorandum was actually valid for only 25 days.

Walsh shakes the market with his debut at Jackson Hole, September rate hike probability soars to 60% overnight

Economists expect the U.S. Bureau of Labor Statistics’ monthly employment report, to be released on Friday, will show an increase of 55,000 nonfarm payroll jobs in August, following a surprise decline in July. If so, this result would roughly align with the average monthly increase so far this year. The unemployment rate is expected to remain at 4.1%. Analyst Anna Wong noted that Waller’s hawkish speech at Jackson Hole has raised the likelihood of a rate hike in September and changed market exp