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Add as a preferred source on GoogleGold Futures Retreat as Strong U.S. Jobs Data Lifts Dollar, Yields
October payrolls increased by 165,000, while interest-rate futures put the implied chance of a December quarter-point Fed hike at 80%.
Gold futures moved lower Friday, Nov. 6, after October hiring came in above expectations and the dollar and Treasury yields strengthened. Employers added 165,000 jobs, and gold surrendered part of its advance from the two sessions before Friday.
Interest-rate futures implied an 80% chance of a quarter-point Federal Reserve rate increase in December, compared with about 75% before the employment report. The shift in December rate-hike expectations followed the jobs release.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.