Gold and silver prices have plunged

On September 4 local time, data released by the U.S. Bureau of Labor Statistics showed that non-farm payrolls in the United States increased by 162,000 in August, far exceeding the industry median expectation of 55,000. The strong employment data further heightened market expectations for a Federal Reserve interest rate hike. According to the CME FedWatch tool, the probability of a Fed rate hike in September rose from 52.4% before the non-farm payrolls release to 60.2%, while the probability of a hike by year-end increased from about 83% to 87.7%. Financial assets experienced significant volatility. The yield on two-year U.S. Treasury bonds once rose more than 7 basis points to 4.425%, the highest since January 2025; the U.S. Dollar Index surged to 99.39, an increase of nearly 0.5%. International gold and silver prices fell sharply during the session, with December gold futures on the New York Mercantile Exchange quoted at $4,429.70 per ounce, down 2.43%; December silver futures quoted at $65.615 per ounce, down 3.09%. (CCTV Finance)