Gold Price Extends Its Softening Trend as the Market Expects More Trouble for The Metal, Following US Job Data

Gold

Gold prices have been losing in the past 24 hours, sending XAU/USD to its lowest since July. The anti-fiat gold inversely tracked a stronger US Dollar as the 2-year Treasury yield closed at a new high for this year. The constant rate hike by the Fed is seriously affecting the yellow metal, especially in the United States.

Traders who are trying to extend favorable sentiments to gold have spent most of last month altering expectations of a different direction from the Federal Reserve in 2023. This expectation has caused the government bond yields and the US Dollar to increase.

The market is at the moment awaiting the US’s next jobs in the next 24 hours. In addition, Non-farm payrolls in august lessened to 300k lower than the 528k print in July.

Despite this, the forecasts continue to hint at a tight labor market in the US. The unemployment rate is currently holding at 3.5%, as the labor force participation rate rose to 62.2% from 62.1%. Job openings in the month of July totaled about 11.2 million, scaling far above the pre-pandemic percentage. There might always be an increase in solid jobs data underpinning a hawkish Fed, further denting the yellow metal.

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  2. Are Steroids Harmful? Uses, Side Effects, And Dangers

    Are Steroids Bad for You?
    Uses, Side Effects, and Dangers

    When it comes to understanding whether steroids are bad for you, it’s essential to examine both their potential benefits and the risks associated with their use.

    Steroids, a group of organic compounds, are often discussed in contexts like sports performance and medical treatments.
    While they can offer significant advantages in certain situations, they also pose serious health dangers.

    What are Steroids?

    Steroids are a class of chemical substances
    produced by the body’s endocrine system, which includes
    hormones like testosterone. They play a crucial role in various bodily functions, including immune
    response, bone density, and muscle function. In medical settings, steroids are
    used to treat conditions such as inflammation, certain muscle-wasting diseases, and hormonal imbalances.

    Main Uses and Potential Benefits

    The primary uses of steroids vary widely, from enhancing athletic performance to treating serious health issues.
    For athletes, the main benefits often revolve around improving speed,
    strength, and muscle mass. Strength athletes may use steroids to boost
    their power output and achieve greater muscle growth. In cases of muscle-wasting diseases,
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    Athletes Looking to Improve Speed and Power Output

    One of the most common reasons athletes turn to steroids is to gain a competitive
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    Those with Muscle-Wasting Diseases

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    function, offering a crucial quality-of-life benefit for many individuals.

    Possible Side Effects

    While steroids can offer benefits, they come with
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    These include both immediate and long-term risks:

    Side Effects for Women

    The use of anabolic steroids by women may lead to adverse effects such as
    virilization, where female users develop masculine
    characteristics like facial hair, deepening voice, and increased muscle
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    Can Be Dangerous

    Steroids can have severe consequences when used improperly or
    in excessive doses. Overuse can result in organ damage, including liver failure and kidney dysfunction, while also increasing the risk of cardiovascular
    issues. The hormonal imbalance caused by steroids can disrupt natural bodily functions and lead to long-term health complications.

    Frequent Blood Work is Important

    Regular monitoring of blood work is essential when using steroids, especially for
    those with pre-existing conditions or who are at higher risk for adverse effects.
    This includes checking liver function tests, cholesterol levels,
    and other indicators of potential harm.

    Risk of Infection

    Steroid use can suppress the immune system, making individuals
    more susceptible to infections. This is particularly concerning for immunocompromised individuals, who are already at higher risk due to conditions like HIV/AIDS or cancer.

    Illegal in Most Places

    The possession and use of steroids without a proper prescription is illegal in many regions.
    Misusing these substances can lead to criminal charges, further complicating their acquisition and usage.

    May Be Mentally Addictive

    Steroid abuse can also lead to mental health challenges,
    including dependence and withdrawal symptoms. The psychological effects of steroid use can manifest as mood swings, paranoia, and feelings
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    Is There a Safe Dosage?

    While steroids may have legitimate medical uses under professional supervision, their abuse or misuse outside regulated settings poses significant risks.
    The safest approach to steroid use is through proper medical guidance, such as
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    Other Types of Steroids

    There are various types of steroids, each with its own uses and effects.
    For example, corticosteroids differ from anabolic steroids
    in their functions, though both belong to the broader category of steroid hormones.
    Understanding the differences is crucial for safe and effective
    use.

    The Bottom Line

    The answer to whether steroids are bad for you depends on the context and manner in which they are used.
    While they can offer significant benefits in certain medical treatments
    and sports performance, their misuse comes with serious health risks.
    Frequent blood work, adherence to prescribed dosages, and close monitoring
    by healthcare professionals are essential when using these substances.

    How We Reviewed This Article:

    To ensure accuracy and provide reliable information, we
    conducted a thorough review of available data on steroids’
    uses, side effects, and dangers. This involved consulting
    credible medical sources, sports performance studies, and regulatory guidelines to present a balanced view of the topic.

    Read this next

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