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Gold prices hit the biggest drop in seven weeks because US employment growth was higher than expected
Gold recorded its biggest decline in seven weeks. The US employment data released earlier was stronger than expected, triggering predictions that the Federal Reserve may soon begin to reduce monetary stimulus. Employment growth in the US in July recorded the biggest increase in nearly a year, and the unemployment rate fell faster than expected. After the report was released, the US dollar rose, and 10-year treasury bond yields rose. Gold fell because investors feared that the improvement in the US economy and rising inflation would prompt the central bank to withdraw its unprecedented economic support. Low interest rates help make gold more competitive with interest-bearing assets. The price of gold is likely to record its biggest weekly decline since mid-June. The employment data “drove the price of gold to a sharp drop,
Analyst: Google Facebook is expected to be strong in the second quarter unaffected by Apple's privacy policy
Wall Street analysts reportedly expect Google and Facebook to continue to grow their digital advertising business when they report second-quarter results, meaning they are unaffected by Apple's change in privacy policy. Together, Google and Facebook generated about $70 billion in revenue from digital advertising last quarter. While the digital advertising business was hit by the COVID-19 epidemic, analysts say it now looks strong. Prior to this, the financial statements of small competitors such as Snap and Twitter have proved this point. Trust Alpha, the parent company of Google
Biden: most experts expect inflation to be temporary. The United States is experiencing "short-term inflation."
U.S. president Joe Biden said that most experts believe that long-term inflation is unlikely to get out of control, and most experts expect inflation to be temporary. Biden said the United States is experiencing "short-term inflation" as the economy recovers from the pandemic, but prices are unlikely to continue to spiral higher. "when you think about it, it makes sense. The cost of cars is a bit back to where it was before the pandemic, "Biden said at the CNN town hall in Cincinnati. But most economists believe that "long-term inflation is unlikely to get out of control," he said. " "there will be inflation in the short term," he said, because the economy "is now trying to get back
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