Gold falls as strong US payrolls lift dollar and yields
FROM THE WIRE · SEEKINGALPHA.COM
[stack of shiny gold bars 3d illustration] monsitj/iStock via Getty Images Gold gave back a slice of the strong gains of the previous two sessions on Friday, as a larger-than-expected rise in U.S. October payrolls lifted yields and strengthened the dollar while reinforcing…
Read at the source ↗MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishPayrolls well above consensus strengthen expectations of Fed rate hikes, weighing on gold and supporting the dollar.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Non-farm payrolls rose by 165K in October, well above consensus.
- 02The unemployment rate fell to 4.1% and hourly earnings rose 0.4%.
- 03The data reinforces expectations of a Fed rate hike in December.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets