Red hot U.S. labor market drives gold prices to fresh 7-month lows as U.S. economy creates 336K jobs in September

- Massive job growth within the U.S. is once again taking its toll on the gold market as prices test fresh seven-month lows.

U.S. nonfarm payrolls rose by 336,000 in September, according to the Bureau of Labor Statistics. The monthly figure significantly beat consensus estimates of 171,000. Ongoing strength in the U.S. labor market continues to be the biggest factor supporting the Federal Reserve’s stance to keep interest rates in restrictive territory for the foreseeable future, which is driving bond yields higher and weigh on gold. December gold futures last traded at $1,825 an ounce, down 0.37% on the day.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Vancouver Home Prices See Second Straight Decrease in SeptemberHoward is a Staff Writer based in Vancouver. He was formerly the Deputy Editor of 604 Now, and has written about the media industry for OneZero and international politics for WhoWhatWhy.
Source: storeyspub - 🏆 16. / 74 Read more »

MATIC reverses September losses — Are more gains likely?Polygon [MATIC] buyers have been exploiting the previous range-high of $0.55 as a market re-entry point since 2 October.
Source: CryptoAmb - 🏆 22. / 68 Read more »