Gold Drops as Traders Mull Fed Path After US Job Openings Data
- Bullion surged more than 3% Monday before closing down 2.1%
- US jobs data this week to provide more clues on rate path
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Spot gold edged lower as traders mulled the Federal Reserve’s interest-rate path after data showed the US labor market is cooling.
Job openings fell in October to the lowest level since March 2021, with available positions decreasing to 8.7 million from a downwardly revised 9.4 million in the prior month, according to a Bureau of Labor Statistics report released Tuesday. The openings figure was below all estimates in a Bloomberg survey of economists.