Gold dipped slightly on Wednesday as the dollar strengthened following a stronger-than-expected U.S. jobs report, putting pressure on prices ahead of the widely anticipated Federal Reserve meeting, where a rate cut is expected.
اضافة اعلان
Spot gold: down 0.1% to $4,207.39 per ounce (as of 01:02 GMT).
U.S. gold futures (February delivery): steady at $4,236.60 per ounce.
The U.S. dollar climbed to a one-week high after employment data indicated a resilient labor market. Yields on 10-year U.S. Treasury bonds also rose to their highest level in over two and a half months.
The U.S. Labor Department reported 7.67 million job openings in October, surpassing expectations of 7.15 million, highlighting the strength of the labor market.
White House economic advisor Kevin Hassett, the leading candidate for Fed Chair, noted there is “ample room” for further rate cuts, though rising inflation could alter that outlook.
The Federal Open Market Committee (FOMC) meeting, spanning two days, concludes Wednesday with a rate decision. Investors assign an 88.6% probability of a 25-basis-point cut.
Other precious metals:
Silver: up 0.5% to a record high of $61.02 per ounce, surpassing $60 for the first time on Tuesday.
Platinum: down 1% to $1,672.70.
Palladium: down 1% to $1,491.00.
