Gold prices slipped on Thursday after stronger-than-expected U.S. employment data reduced expectations that the Federal Reserve would deliver another interest rate cut in December.
اضافة اعلان
Spot gold fell about 0.3% to $3,971.08 per ounce as of 01:44 GMT, while U.S. gold futures for December delivery dropped 0.3% to $3,979.70 per ounce.
The U.S. dollar held just below a four-month high reached in the previous session, as investors favored higher-risk assets.
The Federal Reserve cut interest rates last week, and Chair Jerome Powell signaled the possibility of another reduction in borrowing costs later this year.
A report from ADP showed that U.S. private-sector employment rose by 42,000 jobs last month — exceeding Reuters’ forecast of a 28,000-job increase. A stronger labor market typically reduces the likelihood of further rate cuts and may keep interest rates elevated for a longer period.
According to the CME FedWatch Tool, markets now assign a 62% probability of a December rate cut — down sharply from more than 90% last week.
Among other precious metals, silver fell 0.6% to $47.77 per ounce, platinum dropped 0.8% to $1,549.21, and palladium declined 0.7% to $1,408.74.
— Reuters
