A shock US jobs report has all but ended the case for a September rate hike, according to the CEO of a leading independent financial advisory. “A jobs report this weak, layered on top of two months of substantial downward revisions, makes a hike next month almost impossible to justify,” he said. “Fewer jobs and slower wage growth reduce the case for tighter policy, and the dollar tends to weaken quickly once markets stop pricing in a hike. Green said gold’s rally reflects investors positioning ahead of, rather than reacting to, this shift. “Weak jobs data typically extends that kind of move rather than reversing it.”