April Jobs Beat 115K. Gold Held. The Dollar Didn’t. Here’s Why

April payrolls hit 115,000 — more than double the 55,000 Dow Jones consensus — and the dollar sold off anyway. Gold held at $4,723. Soft wages and persistent inflation expectations explain why the Fed is frozen. Here’s the mechanism.
Gold Price and Nonfarm Payrolls: Why the Fed Is Trapped

ADP printed 109,000 jobs in April — a beat by some measures, a miss by others. The gold price didn’t move. That non-reaction is the real story heading into Friday’s nonfarm payrolls report, and it comes down to one thing: the Fed is already frozen.
