Gold Slips as Expectations of Federal Reserve Rate Cut Fade
- Jobs report undercut chances of a big rate move in November
- Inflation data this week may offer more clues on rate path
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Gold slipped as traders pared expectations of Federal Reserve interest-rate cuts in the wake of stronger-than-expected US jobs data.
Bullion traded near $2,643 an ounce, still close to a record high of $2,685.58 reached late last month. Key US Treasury yields are back at 4% after Friday’s blowout US jobs numbers undercut chances of a big rate reduction by the Fed in November. Money markets are now pricing less than a quarter-point move next month.