Gold and Copper Steady as Traders Assess Fed’s Path on Rates
- U.S. added 467,000 jobs in January, above all estimates
- Treasury yields and dollar advance, weighing on commodities
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Gold and copper steadied as traders assessed whether a better-than-expected U.S. jobs report is likely to prompt the Federal Reserve to tighten monetary policy more aggressively.
U.S. employers added more jobs than forecast last month despite a spike in Covid-19 infections and related business closures, government figures showed Friday. There were also substantial upward revisions to the prior two months. Treasury yields and the dollar jumped, weighing on commodities including metals.